Pitney Bowes Inc. (NYSE:PBI) has received a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $14.50.
PBI has been the subject of a number of recent research reports. ValuEngine raised Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Loop Capital dropped their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, November 2nd.
Several institutional investors and hedge funds have recently modified their holdings of PBI. Sirios Capital Management L P acquired a new position in shares of Pitney Bowes in the 3rd quarter worth approximately $45,044,000. Miller Howard Investments Inc. NY raised its holdings in shares of Pitney Bowes by 32.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock worth $71,351,000 after buying an additional 1,259,978 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Pitney Bowes by 93.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock valued at $31,863,000 after purchasing an additional 1,019,942 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in Pitney Bowes by 340.9% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,134,726 shares of the technology company’s stock valued at $17,133,000 after purchasing an additional 877,342 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Pitney Bowes during the 3rd quarter valued at $11,208,000. 73.74% of the stock is owned by institutional investors and hedge funds.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $842.82 million during the quarter, compared to the consensus estimate of $837.60 million. During the same quarter in the prior year, the business posted $0.44 EPS. Pitney Bowes’s revenue was up .5% compared to the same quarter last year. equities analysts expect that Pitney Bowes will post 1.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st were issued a $0.1875 dividend. The ex-dividend date was Monday, November 20th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 6.53%. Pitney Bowes’s payout ratio is presently 159.57%.
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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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