According to Zacks, “Pitney Bowes has a bleak earnings history, having missed estimates thrice in a row over the last four trailing quarters. The company’s performance is being hurt on account of higher expenses, charges related to new enterprise business platform cutover and absence of earnings from Imagitas that was sold last May. Also, increased currency volatility and huge capital expenditure related to ERP implementation, will likely burden key financials. However, diligent transformation initiatives as well as launch of innovative offerings like Commerce Cloud by the company are likely to combat some of these challenges. Also, the company has lucrative opportunities in the DCS business, primarily fueled by global e-commerce trends. In addition, upcoming benefits of the ERP implementation and strong liquidity position look promising. “
Shares of Pitney Bowes (NYSE:PBI) opened at 17.67 on Tuesday. Pitney Bowes has a 52-week low of $16.24 and a 52-week high of $21.81. The stock has a market cap of $3.28 billion, a P/E ratio of 12.00 and a beta of 1.32. The firm has a 50-day moving average price of $18.28 and a 200-day moving average price of $19.03.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business earned $836 million during the quarter, compared to the consensus estimate of $852.46 million. Pitney Bowes had a return on equity of 254.58% and a net margin of 8.63%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. On average, analysts anticipate that Pitney Bowes will post $1.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were paid a $0.1875 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.75 dividend on an annualized basis and a yield of 4.24%. Pitney Bowes’s dividend payout ratio (DPR) is 51.37%.
A number of institutional investors have recently bought and sold shares of PBI. Norges Bank purchased a new position in Pitney Bowes during the fourth quarter worth approximately $40,257,000. Chevy Chase Trust Holdings Inc. increased its position in Pitney Bowes by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 162,136 shares of the company’s stock worth $3,493,000 after buying an additional 2,443 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in Pitney Bowes by 5.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 46,640 shares of the company’s stock worth $1,005,000 after buying an additional 2,473 shares during the period. Glenmede Trust Co. NA increased its position in Pitney Bowes by 10.9% in the first quarter. Glenmede Trust Co. NA now owns 146,036 shares of the company’s stock worth $3,144,000 after buying an additional 14,393 shares during the period. Finally, Commonwealth Equity Services Inc increased its position in Pitney Bowes by 1.3% in the first quarter. Commonwealth Equity Services Inc now owns 20,180 shares of the company’s stock worth $435,000 after buying an additional 268 shares during the period. Institutional investors and hedge funds own 82.13% of the company’s stock.
About Pitney Bowes
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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