Pitney Bowes (PBI) Hits New 12-Month High and Low at $8.30

Pitney Bowes (NYSE:PBI) shares hit a new 52-week high and low during mid-day trading on Friday . The company traded as low as $8.30 and last traded at $8.72, with a volume of 1859770 shares trading hands. The stock had previously closed at $8.55.

A number of brokerages have recently issued reports on PBI. Loop Capital decreased their target price on Pitney Bowes to $10.00 and set a “hold” rating on the stock in a research report on Thursday. ValuEngine downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Monday, April 23rd. Finally, Zacks Investment Research downgraded Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Pitney Bowes has a consensus rating of “Hold” and a consensus price target of $13.50.

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The company has a debt-to-equity ratio of 15.15, a current ratio of 1.14 and a quick ratio of 1.24. The company has a market cap of $1,682.89, a P/E ratio of 6.13 and a beta of 1.15.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Pitney Bowes had a return on equity of 189.79% and a net margin of 6.76%. The firm had revenue of $983.20 million during the quarter, compared to the consensus estimate of $930.38 million. During the same period in the prior year, the company earned $0.36 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. research analysts anticipate that Pitney Bowes will post 1.23 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. increased its stake in shares of Pitney Bowes by 88.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 9,943 shares of the technology company’s stock worth $111,000 after acquiring an additional 4,664 shares during the last quarter. ING Groep NV increased its stake in shares of Pitney Bowes by 23.2% in the 4th quarter. ING Groep NV now owns 28,176 shares of the technology company’s stock worth $315,000 after acquiring an additional 5,313 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Pitney Bowes by 4.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 159,323 shares of the technology company’s stock worth $1,781,000 after acquiring an additional 6,448 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Pitney Bowes by 29.2% in the 4th quarter. Meadow Creek Investment Management LLC now owns 29,172 shares of the technology company’s stock worth $326,000 after acquiring an additional 6,596 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Pitney Bowes by 33.2% in the 4th quarter. Creative Planning now owns 29,486 shares of the technology company’s stock worth $330,000 after acquiring an additional 7,351 shares during the last quarter. 75.48% of the stock is owned by hedge funds and other institutional investors.

About Pitney Bowes

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: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.

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