Pitney Bowes (NYSE:PBI) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Pitney Bowes (NYSE:PBI) from a strong-buy rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other brokerages also recently issued reports on PBI. Truist Financial boosted their price objective on Pitney Bowes from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a research note on Friday, July 31st. Weiss Ratings raised shares of Pitney Bowes from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $17.30 price target on shares of Pitney Bowes in a research report on Thursday, July 30th. Finally, Zacks Research lowered shares of Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Pitney Bowes presently has a consensus rating of “Hold” and a consensus price target of $18.45.

Pitney Bowes Stock Performance

NYSE PBI opened at $17.27 on Friday. The business’s fifty day moving average is $16.87 and its 200 day moving average is $14.68. Pitney Bowes has a fifty-two week low of $8.95 and a fifty-two week high of $19.07. The company has a market capitalization of $2.37 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.70 and a beta of 1.66.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Pitney Bowes had a negative return on equity of 31.37% and a net margin of 10.04%. The business had revenue of $451.50 million during the quarter, compared to analysts’ expectations of $453.94 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. On average, sell-side analysts forecast that Pitney Bowes will post 1.68 EPS for the current year.

Pitney Bowes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, August 10th. Pitney Bowes’s payout ratio is presently 32.79%.

Insider Activity

In related news, CEO Kurt Wolf sold 430,443 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $18.23, for a total transaction of $7,846,975.89. Following the completion of the sale, the chief executive officer owned 179,190 shares in the company, valued at approximately $3,266,633.70. This trade represents a 70.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Pfeiffer sold 20,000 shares of Pitney Bowes stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $17.11, for a total value of $342,200.00. Following the sale, the executive vice president directly owned 79,223 shares in the company, valued at $1,355,505.53. This trade represents a 20.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,461,767 shares of company stock worth $25,920,799 over the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC grew its holdings in Pitney Bowes by 1.0% during the 2nd quarter. HB Wealth Management LLC now owns 63,088 shares of the technology company’s stock valued at $1,105,000 after buying an additional 642 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Pitney Bowes by 21.8% in the third quarter. IFP Advisors Inc now owns 3,801 shares of the technology company’s stock worth $62,000 after buying an additional 681 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Pitney Bowes by 3.1% in the third quarter. Yousif Capital Management LLC now owns 35,048 shares of the technology company’s stock worth $572,000 after buying an additional 1,060 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Pitney Bowes by 2.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 60,455 shares of the technology company’s stock worth $1,059,000 after buying an additional 1,221 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of Pitney Bowes during the second quarter worth $46,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

About Pitney Bowes

Pitney Bowes Inc (NYSE:PBI) is a global technology and services company that helps businesses manage mailing, shipping and related communications. Its offerings include postage meters, mailing systems, shipping software, parcel management tools, address and data services, and equipment financing and support.

The company serves small businesses, large enterprises and government organizations through solutions designed to streamline the preparation, processing and delivery of physical mail and packages.