Shares of Pitney Bowes Inc. (NYSE:PBI) have received a consensus broker rating score of 1.50 (Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and three have assigned a strong buy rating to the company.
Brokers have set a 1 year consensus price objective of $24.50 for the company and are expecting that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also given Pitney Bowes an industry rank of 68 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 report on Friday, July 1st.
Several hedge funds have recently made changes to their positions in PBI. Alps Advisors Inc. raised its stake in Pitney Bowes by 31.7% in the second quarter. Alps Advisors Inc. now owns 1,435,713 shares of the company’s stock valued at $25,556,000 after buying an additional 345,868 shares during the period. Norges Bank purchased a new stake in Pitney Bowes during the fourth quarter valued at about $40,257,000. Americafirst Capital Management LLC purchased a new stake in Pitney Bowes during the second quarter valued at about $111,000. UBS Group AG raised its stake in Pitney Bowes by 11.8% in the first quarter. UBS Group AG now owns 112,438 shares of the company’s stock valued at $2,422,000 after buying an additional 11,900 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Pitney Bowes during the first quarter valued at about $2,120,000. 82.13% of the stock is currently owned by institutional investors and hedge funds.
Pitney Bowes (NYSE:PBI) traded up 0.79% during mid-day trading on Thursday, reaching $17.86. 375,548 shares of the company’s stock traded hands. Pitney Bowes has a 1-year low of $16.24 and a 1-year high of $21.81. The firm has a 50 day moving average of $18.18 and a 200 day moving average of $18.92. The firm has a market cap of $3.31 billion, a PE ratio of 12.12 and a beta of 1.36.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company earned $836 million during the quarter, compared to analysts’ expectations of $852.46 million. Pitney Bowes had a net margin of 8.63% and a return on equity of 254.58%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. Analysts forecast that Pitney Bowes will post $1.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Thursday, August 18th. Pitney Bowes’s dividend payout ratio is presently 51.37%.
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.