Pitney Bowes Inc. (PBI) Expected to Post Earnings of $0.21 Per Share

Wall Street brokerages forecast that Pitney Bowes Inc. (NYSE:PBI) will post earnings per share (EPS) of $0.21 for the current quarter, according to Zacks. Zero analysts have provided estimates for Pitney Bowes’ earnings. Pitney Bowes posted earnings of $0.30 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 30%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, May 1st.

On average, analysts expect that Pitney Bowes will report full-year earnings of $1.14 per share for the current year, with EPS estimates ranging from $1.13 to $1.14. For the next financial year, analysts expect that the business will post earnings of $1.20 per share. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Pitney Bowes.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, February 5th. The technology company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Pitney Bowes had a return on equity of 100.78% and a net margin of 6.17%. The company had revenue of $947.10 million during the quarter, compared to analyst estimates of $932.48 million. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis.

A number of brokerages have issued reports on PBI. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Northcoast Research downgraded Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.00.

Hedge funds have recently modified their holdings of the business. Essex Savings Bank purchased a new stake in Pitney Bowes during the fourth quarter valued at approximately $47,000. Boston Partners purchased a new stake in shares of Pitney Bowes in the fourth quarter worth approximately $61,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Pitney Bowes in the first quarter worth approximately $65,000. Coldstream Capital Management Inc. purchased a new stake in shares of Pitney Bowes in the fourth quarter worth approximately $72,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Pitney Bowes by 509.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 444,710 shares of the technology company’s stock worth $75,000 after buying an additional 371,705 shares during the period. Institutional investors and hedge funds own 71.38% of the company’s stock.

PBI stock traded up $0.07 during midday trading on Monday, reaching $7.08. 2,376,369 shares of the company traded hands, compared to its average volume of 3,732,347. Pitney Bowes has a 52-week low of $5.51 and a 52-week high of $11.10. The company has a debt-to-equity ratio of 12.82, a current ratio of 1.25 and a quick ratio of 1.23. The company has a market cap of $1.32 billion, a PE ratio of 6.10 and a beta of 1.46.

Pitney Bowes announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 5th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 7.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Pitney Bowes Company Profile

Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.

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