Pitney Bowes (NYSE:PBI) Stock Rating Lowered by ValuEngine

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ValuEngine lowered shares of Pitney Bowes (NYSE:PBI) from a sell rating to a strong sell rating in a research note released on Thursday morning, ValuEngine reports.

PBI has been the topic of a number of other research reports. Maxim Group set a $9.00 target price on shares of Pitney Bowes and gave the company a buy rating in a research report on Friday, May 31st. Zacks Investment Research upgraded shares of Green Brick Partners from a sell rating to a hold rating in a research report on Wednesday, April 10th.

Pitney Bowes stock opened at $4.22 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 35.45. Pitney Bowes has a 12-month low of $3.41 and a 12-month high of $9.09. The company’s fifty day moving average is $4.21. The firm has a market cap of $762.66 million, a P/E ratio of 3.64 and a beta of 1.91.

Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, May 1st. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.09). Pitney Bowes had a net margin of 4.77% and a return on equity of 99.26%. The company had revenue of $868.40 million for the quarter, compared to analyst estimates of $866.04 million. During the same quarter in the previous year, the firm earned $0.28 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. On average, analysts anticipate that Pitney Bowes will post 0.93 earnings per share for the current fiscal year.

In other news, VP Stanley J. Sutula III bought 5,000 shares of Pitney Bowes stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average price of $5.34 per share, for a total transaction of $26,700.00. Following the purchase, the vice president now directly owns 15,000 shares in the company, valued at approximately $80,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert M. Dutkowsky bought 10,000 shares of Pitney Bowes stock in a transaction dated Thursday, May 9th. The stock was purchased at an average price of $5.22 per share, with a total value of $52,200.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $52,200. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,100 shares of company stock valued at $105,537 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PBI. Norges Bank bought a new stake in shares of Pitney Bowes in the 4th quarter worth $13,178,000. Capital Management Corp VA bought a new stake in shares of Pitney Bowes in the 1st quarter worth $6,431,000. Bank of New York Mellon Corp grew its stake in shares of Pitney Bowes by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 7,116,066 shares of the technology company’s stock worth $42,056,000 after acquiring an additional 749,752 shares in the last quarter. Restructuring Capital Associates LP grew its stake in shares of Pitney Bowes by 146.7% in the 4th quarter. Restructuring Capital Associates LP now owns 1,200,496 shares of the technology company’s stock worth $7,095,000 after acquiring an additional 713,918 shares in the last quarter. Finally, Spark Investment Management LLC grew its stake in shares of Pitney Bowes by 149.1% in the 1st quarter. Spark Investment Management LLC now owns 1,000,200 shares of the technology company’s stock worth $6,871,000 after acquiring an additional 598,700 shares in the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Pitney Bowes Company Profile

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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