Shares of Pitney Bowes Inc. (NYSE:PBI) shot up 5.6% during trading on Tuesday . The company traded as high as $5.11 and last traded at $5.06, 2,290,536 shares traded hands during trading. A decline of 31% from the average session volume of 3,313,108 shares. The stock had previously closed at $4.79.
A number of brokerages have recently commented on PBI. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating and set a $4.75 target price on the stock. in a report on Monday, September 9th. Finally, Maxim Group set a $6.00 target price on shares of Pitney Bowes and gave the company a “buy” rating in a report on Monday, August 26th.
The stock has a market cap of $782.72 million, a P/E ratio of 4.36 and a beta of 1.98. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 57.19. The stock’s fifty day moving average price is $4.36 and its 200 day moving average price is $4.61.
Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. Pitney Bowes had a net margin of 4.07% and a return on equity of 113.87%. The firm had revenue of $860.78 million for the quarter, compared to analysts’ expectations of $861.66 million. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Pitney Bowes Inc. will post 0.66 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in PBI. BlackRock Inc. boosted its stake in Pitney Bowes by 24.9% in the 2nd quarter. BlackRock Inc. now owns 26,608,885 shares of the technology company’s stock worth $113,885,000 after purchasing an additional 5,311,931 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Pitney Bowes by 1,412.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,020,532 shares of the technology company’s stock worth $4,368,000 after purchasing an additional 953,037 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Pitney Bowes by 100.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,800,000 shares of the technology company’s stock worth $7,704,000 after purchasing an additional 900,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Pitney Bowes by 166.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,371,067 shares of the technology company’s stock worth $5,868,000 after purchasing an additional 855,597 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Pitney Bowes in the 2nd quarter worth about $3,630,000. Institutional investors own 78.18% of the company’s stock.
Pitney Bowes Company Profile (NYSE:PBI)
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
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