Shares of Pitney Bowes Inc. (NYSE:PBI) gapped down before the market opened on Monday . The stock had previously closed at $10.14, but opened at $9.93. Pitney Bowes shares last traded at $9.80, with a volume of 3439807 shares trading hands.
A number of research firms have recently issued reports on PBI. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “strong sell” rating in a research report on Monday, November 6th. Loop Capital lowered their price objective on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, November 2nd. ValuEngine upgraded Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Cross Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.
The company has a current ratio of 1.42, a quick ratio of 1.37 and a debt-to-equity ratio of 35.49. The stock has a market cap of $1,829.94, a P/E ratio of 6.32 and a beta of 1.25.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.10). The company had revenue of $842.82 million during the quarter, compared to analyst estimates of $837.60 million. Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. Pitney Bowes’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. sell-side analysts expect that Pitney Bowes Inc. will post 1.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 7.68%. The ex-dividend date is Monday, November 20th. Pitney Bowes’s dividend payout ratio is 156.25%.
A number of hedge funds have recently made changes to their positions in PBI. Dimensional Fund Advisors LP boosted its stake in Pitney Bowes by 18.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,090,101 shares of the technology company’s stock valued at $14,290,000 after buying an additional 172,815 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Pitney Bowes by 79.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 35,800 shares of the technology company’s stock valued at $469,000 after buying an additional 15,900 shares in the last quarter. Creative Planning boosted its stake in Pitney Bowes by 30.2% in the 2nd quarter. Creative Planning now owns 30,156 shares of the technology company’s stock valued at $455,000 after buying an additional 6,990 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Pitney Bowes by 14.6% in the 2nd quarter. LS Investment Advisors LLC now owns 20,621 shares of the technology company’s stock valued at $311,000 after buying an additional 2,626 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Pitney Bowes by 16.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 23,900 shares of the technology company’s stock valued at $356,000 after buying an additional 3,300 shares in the last quarter. 76.17% of the stock is currently owned by institutional investors and hedge funds.
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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.
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