Brokerages Set Pitney Bowes Inc. (PBI) Target Price at $14.50

Pitney Bowes Inc. (NYSE:PBI) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.50.

Several brokerages have issued reports on PBI. ValuEngine raised Pitney Bowes from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Loop Capital dropped their price target on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th.

A number of hedge funds have recently modified their holdings of PBI. Russell Investments Group Ltd. lifted its stake in Pitney Bowes by 27.0% during the second quarter. Russell Investments Group Ltd. now owns 59,138 shares of the technology company’s stock worth $895,000 after purchasing an additional 12,566 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Pitney Bowes by 13.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 880,997 shares of the technology company’s stock worth $13,304,000 after purchasing an additional 102,102 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Pitney Bowes by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock worth $106,000 after purchasing an additional 748 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Pitney Bowes by 3.3% during the second quarter. Principal Financial Group Inc. now owns 789,909 shares of the technology company’s stock worth $11,928,000 after purchasing an additional 24,959 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Pitney Bowes by 1.7% during the second quarter. Swiss National Bank now owns 310,500 shares of the technology company’s stock worth $4,689,000 after purchasing an additional 5,200 shares during the last quarter. 73.74% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes (NYSE PBI) traded down $0.18 during trading on Tuesday, reaching $13.18. The company had a trading volume of 4,301,942 shares, compared to its average volume of 2,320,000. Pitney Bowes has a twelve month low of $9.50 and a twelve month high of $16.60. The company has a debt-to-equity ratio of 35.49, a quick ratio of 1.37 and a current ratio of 1.42. The stock has a market capitalization of $2,460.00, a PE ratio of 28.04 and a beta of 1.11.

Pitney Bowes (NYSE:PBI) last posted its 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). Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The business had revenue of $842.82 million for the quarter, compared to analysts’ expectations of $837.60 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Pitney Bowes’s quarterly revenue was up .5% compared to the same quarter last year. equities research analysts predict that Pitney Bowes will post 1.38 EPS for the current year.

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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 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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