Analysts expect Pitney Bowes Inc. (NYSE:PBI) to announce earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Pitney Bowes’ earnings. Pitney Bowes posted earnings per share of $0.39 in the same quarter last year, which indicates a negative year over year growth rate of 7.7%. The company is expected to announce its next earnings results before the market opens on Tuesday, August 1st.
On average, analysts expect that Pitney Bowes will report full year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.74 to $1.75. For the next financial year, analysts forecast that the business will post earnings of $1.90 per share, with EPS estimates ranging from $1.84 to $1.95. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Pitney Bowes.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Pitney Bowes had a return on equity of 2,282.68% and a net margin of 3.28%. The company had revenue of $836.60 million during the quarter, compared to the consensus estimate of $817.07 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Friday, May 12th. Loop Capital assumed coverage on shares of Pitney Bowes in a report on Friday. They set a “hold” rating and a $16.00 target price for the company. Sidoti lowered shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.67.
Shares of Pitney Bowes (NYSE PBI) traded down 1.65% during midday trading on Friday, hitting $15.48. The stock had a trading volume of 1,586,411 shares. The stock has a market cap of $2.89 billion, a PE ratio of 29.04 and a beta of 1.16. Pitney Bowes has a 52 week low of $12.31 and a 52 week high of $19.33. The stock has a 50-day moving average of $15.33 and a 200 day moving average of $14.46.
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In other Pitney Bowes news, Director Linda S. Sanford bought 5,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $15.09 per share, with a total value of $75,450.00. Following the acquisition, the director now owns 18,690 shares of the company’s stock, valued at $282,032.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.01% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC acquired a new stake in Pitney Bowes during the first quarter worth approximately $3,887,000. Nationwide Fund Advisors raised its position in shares of Pitney Bowes by 481.9% in the first quarter. Nationwide Fund Advisors now owns 309,967 shares of the technology company’s stock valued at $4,064,000 after buying an additional 256,697 shares during the period. CAPROCK Group Inc. purchased a new position in shares of Pitney Bowes during the first quarter valued at about $525,000. Rothschild Investment Corp IL raised its position in shares of Pitney Bowes by 2.5% in the first quarter. Rothschild Investment Corp IL now owns 41,029 shares of the technology company’s stock valued at $538,000 after buying an additional 1,000 shares during the period. Finally, Huntington National Bank raised its position in shares of Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock valued at $222,000 after buying an additional 1,553 shares during the period. 77.88% of the stock is owned by hedge funds and other institutional investors.
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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