Shares of Pitney Bowes Inc. (NYSE:PBI – Get Free Report) have been given an average rating of “Hold” by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $16.4250.
PBI has been the subject of a number of analyst reports. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research report on Friday, May 8th. Truist Financial upped their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and increased their price target for the company from $9.50 to $16.50 in a report on Monday, May 11th. Finally, Zacks Research downgraded shares of Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th.
Pitney Bowes Price Performance
Pitney Bowes (NYSE:PBI – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. During the same period in the previous year, the company posted $0.33 EPS. Pitney Bowes’s revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Pitney Bowes will post 1.62 earnings per share for the current fiscal year.
Pitney Bowes Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were given a $0.01 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pitney Bowes’s dividend payout ratio (DPR) is currently 38.83%.
Insider Activity
In related news, CEO Kurt James Wolf sold 966,561 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38. Following the sale, the chief executive officer directly owned 452,628 shares in the company, valued at $6,599,316.24. The trade was a 68.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 3,350,686 shares of company stock worth $53,305,322. Insiders own 6.50% of the company’s stock.
Institutional Trading of Pitney Bowes
Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its position in Pitney Bowes by 3.1% during the 2nd quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock worth $69,455,000 after purchasing an additional 188,886 shares in the last quarter. LSV Asset Management lifted its holdings in Pitney Bowes by 246.7% in the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after purchasing an additional 2,986,689 shares in the last quarter. Permit Capital LLC lifted its holdings in Pitney Bowes by 14.0% in the 4th quarter. Permit Capital LLC now owns 3,250,000 shares of the technology company’s stock valued at $34,352,000 after purchasing an additional 400,000 shares in the last quarter. Capital Management Corp VA boosted its stake in shares of Pitney Bowes by 25.3% during the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after purchasing an additional 592,568 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Pitney Bowes by 60.2% during the fourth quarter. Millennium Management LLC now owns 2,630,801 shares of the technology company’s stock worth $27,808,000 after acquiring an additional 988,653 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.
About Pitney Bowes
Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.
The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.
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