Upgrades Pitney Bowes (NYSE:PBI) to Buy

Pitney Bowes (NYSE:PBIGet Rating) was upgraded by analysts at from a “hold” rating to a “buy” rating in a report released on Wednesday.

Shares of PBI opened at $3.75 on Wednesday. The company has a debt-to-equity ratio of 23.68, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a 50 day moving average price of $4.56 and a 200 day moving average price of $5.26. The stock has a market capitalization of $650.37 million, a price-to-earnings ratio of 12.93 and a beta of 2.37. Pitney Bowes has a one year low of $3.54 and a one year high of $9.92.

Pitney Bowes (NYSE:PBIGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The technology company reported $0.08 EPS for the quarter. Pitney Bowes had a return on equity of 77.00% and a net margin of 1.38%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $921.06 million. During the same quarter in the prior year, the company posted $0.07 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in shares of Pitney Bowes by 251.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,250,507 shares of the technology company’s stock worth $28,180,000 after acquiring an additional 3,041,923 shares in the last quarter. Millennium Management LLC lifted its stake in Pitney Bowes by 272.3% during the fourth quarter. Millennium Management LLC now owns 3,596,559 shares of the technology company’s stock worth $23,845,000 after purchasing an additional 2,630,402 shares during the last quarter. Permit Capital LLC purchased a new position in Pitney Bowes in the first quarter valued at approximately $8,320,000. EMG Holdings L.P. raised its stake in Pitney Bowes by 466.6% during the 1st quarter. EMG Holdings L.P. now owns 1,099,806 shares of the technology company’s stock worth $5,719,000 after acquiring an additional 1,399,806 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Pitney Bowes by 449.3% during the first quarter. Victory Capital Management Inc. now owns 1,465,174 shares of the technology company’s stock worth $7,721,000 after buying an additional 1,198,461 shares during the period. Institutional investors own 64.87% of the company’s stock.

Pitney Bowes Company Profile (Get Rating)

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.

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