Shares of Pitney Bowes Inc. (NYSE:PBI) have earned an average broker rating score of 1.50 (Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and three have issued a strong buy rating on the company.
Brokerages have set a 12-month consensus target price of $24.50 for the company and are forecasting that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Pitney Bowes an industry rank of 62 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th.
A number of large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $40,257,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Pitney Bowes during the second quarter valued at about $22,551,000. Chartwell Investment Partners LLC bought a new stake in shares of Pitney Bowes during the second quarter valued at about $20,869,000. LSV Asset Management increased its stake in shares of Pitney Bowes by 34.3% in the second quarter. LSV Asset Management now owns 2,963,263 shares of the company’s stock valued at $52,746,000 after buying an additional 757,236 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Pitney Bowes by 144.8% in the second quarter. Canada Pension Plan Investment Board now owns 950,510 shares of the company’s stock valued at $16,919,000 after buying an additional 562,210 shares in the last quarter. 82.13% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes (NYSE:PBI) opened at 17.58 on Thursday. Pitney Bowes has a 52-week low of $16.24 and a 52-week high of $21.81. The stock has a market capitalization of $3.26 billion, a PE ratio of 11.93 and a beta of 1.36. The firm’s 50-day moving average is $18.14 and its 200 day moving average is $18.89.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. Pitney Bowes had a net margin of 8.63% and a return on equity of 254.58%. The firm earned $836 million during the quarter, compared to the consensus estimate of $852.46 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Pitney Bowes will post $1.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 4.27%. The ex-dividend date was Thursday, August 18th. Pitney Bowes’s payout ratio is presently 51.37%.
Pitney Bowes Company Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence, and customer engagement products and solutions to help clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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