Pitney Bowes Inc. (PBI) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Pitney Bowes Inc. (NYSE:PBI) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Pitney Bowes’ concerted efforts to transform its business over the past three years have finally started to show results, as is evident from growth across most business lines during first-quarter 2017. Also, the company’s enterprise is boosting operational efficiency, thus stoking growth. Going forward, the company believes that positive industry trends, new products and digital capabilities within SMB and robust momentum of Global Ecommerce will act as strong growth drivers. However, on the flip side, over the past six months, Pitney Bowes’ shares witnessed a loss against the Zacks categorized Office Automation & Equipment industry’s average positive gain. High incremental marketing expense and prolonged weakness in mailing business pose as major headwinds. Also, fluctuations in license revenues, currency fluctuations and softness in equipment sales pose as major threats, going forward.”

A number of other analysts also recently commented on the stock. Sidoti downgraded shares of Pitney Bowes from a buy rating to a neutral rating in a report on Monday, May 15th. ValuEngine downgraded shares of Pitney Bowes from a buy rating to a hold rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Pitney Bowes has a consensus rating of Hold and a consensus target price of $18.50.

Pitney Bowes (PBI) traded up 0.47% on Tuesday, hitting $14.98. 43,724 shares of the company traded hands. Pitney Bowes has a 12 month low of $12.31 and a 12 month high of $19.33. The stock’s 50-day moving average is $15.32 and its 200 day moving average is $14.49. The stock has a market cap of $2.79 billion, a PE ratio of 28.11 and a beta of 1.19.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $836.60 million for the quarter, compared to the consensus estimate of $817.07 million. Pitney Bowes had a net margin of 3.28% and a return on equity of 2,282.68%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Equities research analysts expect that Pitney Bowes will post $1.74 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 26th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Wednesday, May 24th. Pitney Bowes’s dividend payout ratio is currently 138.89%.

In related news, Director Linda S. Sanford acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $15.09 per share, with a total value of $75,450.00. Following the completion of the acquisition, the director now owns 18,690 shares in the company, valued at $282,032.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.01% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PBI. Sheaff Brock Investment Advisors LLC boosted its position in shares of Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock worth $146,000 after buying an additional 500 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Pitney Bowes during the first quarter worth about $149,000. Fox Run Management L.L.C. acquired a new position in shares of Pitney Bowes during the first quarter worth about $159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Pitney Bowes by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,649 shares of the technology company’s stock worth $162,000 after buying an additional 49 shares during the last quarter. Finally, ING Groep NV acquired a new position in shares of Pitney Bowes during the fourth quarter worth about $167,000. Institutional investors own 79.01% 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 its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PBI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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