Pitney Bowes Inc. (PBI) Price Target Cut to $12.00

Pitney Bowes Inc. (NYSE:PBI) had its price target reduced by equities research analysts at Loop Capital from $14.00 to $12.00 in a note issued to investors on Thursday, November 2nd. The firm currently has a “hold” rating on the technology company’s stock. Loop Capital’s price target suggests a potential upside of 24.10% from the company’s current price.

PBI has been the subject of several other research reports. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Sidoti upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, August 2nd. Finally, Cross Research downgraded shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.50.

Shares of Pitney Bowes (NYSE:PBI) traded down $0.35 during trading on Thursday, hitting $9.67. 3,080,200 shares of the stock traded hands, compared to its average volume of 2,697,396. The company has a debt-to-equity ratio of 35.49, a quick ratio of 1.37 and a current ratio of 1.42. Pitney Bowes has a 1-year low of $9.63 and a 1-year high of $16.60. The firm has a market cap of $1,871.02, a price-to-earnings ratio of 6.46 and a beta of 1.25.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). The company had revenue of $842.82 million during the quarter, compared to the consensus estimate of $837.60 million. Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. sell-side analysts predict that Pitney Bowes will post 1.38 earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in PBI. BlackRock Inc. raised its holdings in Pitney Bowes by 9,828.4% during the 1st quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock worth $277,037,000 after purchasing an additional 20,918,761 shares during the last quarter. Sirios Capital Management L P bought a new stake in shares of Pitney Bowes in the 3rd quarter valued at $45,044,000. Miller Howard Investments Inc. NY increased its stake 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 valued at $71,351,000 after acquiring an additional 1,259,978 shares in the last quarter. Prudential Financial Inc. grew its position in Pitney Bowes by 344.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,482,000 shares of the technology company’s stock valued at $22,378,000 after purchasing an additional 1,148,594 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Pitney Bowes by 93.6% in 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 during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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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