Pitney Bowes Inc. (NYSE:PBI) released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03, Bloomberg Earnings reports. The business had revenue of $821.40 million for the quarter, compared to the consensus estimate of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. Pitney Bowes updated its FY17 guidance to $1.70-1.78 EPS.
Shares of Pitney Bowes (NYSE:PBI) opened at 12.74 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of 25.03 and a beta of 1.17. Pitney Bowes has a 1-year low of $12.31 and a 1-year high of $19.10. The company has a 50 day moving average price of $14.41 and a 200 day moving average price of $14.15.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be paid a $0.1875 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.75 annualized dividend and a dividend yield of 5.89%. Pitney Bowes’s payout ratio is currently 144.23%.
A number of institutional investors have recently modified their holdings of PBI. BlackRock Inc. increased its position in shares of Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock worth $277,037,000 after buying an additional 20,918,761 shares during the period. Miller Howard Investments Inc. NY acquired a new position in shares of Pitney Bowes during the first quarter worth approximately $50,988,000. Norges Bank acquired a new position in shares of Pitney Bowes during the fourth quarter worth about $26,120,000. Breton Hill Capital Ltd. increased its position in shares of Pitney Bowes by 212.7% in the first quarter. Breton Hill Capital Ltd. now owns 645,642 shares of the technology company’s stock worth $8,464,000 after buying an additional 1,218,637 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Pitney Bowes by 344.5% in the second quarter. Prudential Financial Inc. now owns 1,482,000 shares of the technology company’s stock worth $22,378,000 after buying an additional 1,148,594 shares during the last quarter. 76.98% of the stock is owned by institutional investors.
A number of research firms have commented on PBI. Zacks Investment Research raised Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Friday, May 12th. Loop Capital began coverage on Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 price target for the company. Sidoti lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.50.
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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