Pitney Bowes (NYSE:PBI) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Pitney Bowes beat quarterly earnings expectations, reporting adjusted EPS of $0.42 versus the $0.35 analyst consensus. Revenue was $456.18 million, slightly below the $458.24 million estimate.
• Shares rose to $17.41 following the results, while the stock has traded between $8.95 and $19.07 over the past year. Pitney Bowes reported a 10.04% net margin and a negative 31.37% return on equity.
• Analysts remain cautious: the consensus rating is “Hold” with an average price target of $18.45, despite some firms raising targets and maintaining outperform or buy recommendations. Company insiders sold roughly 1.46 million shares worth $25.9 million in the last quarter.

Pitney Bowes (NYSE:PBI - Get Free Report) released its earnings results on Wednesday. The technology company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.07, FiscalAI reports. The business had revenue of $456.18 million for the quarter, compared to the consensus estimate of $458.24 million. Pitney Bowes had a net margin of 10.04% and a negative return on equity of 31.37%.

Pitney Bowes Stock Performance

Shares of NYSE:PBI traded up $0.12 on Wednesday, hitting $17.41. 1,789,038 shares of the company were exchanged, compared to its average volume of 2,430,974. Pitney Bowes has a one year low of $8.95 and a one year high of $19.07. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.70 and a beta of 1.66. The company's 50 day moving average price is $16.90 and its two-hundred day moving average price is $14.71.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 20,000 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.11, for a total value of $342,200.00. Following the completion of the transaction, the executive vice president directly owned 79,223 shares in the company, valued at approximately $1,355,505.53. This represents a 20.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Todd Everett sold 25,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $18.07, for a total transaction of $451,750.00. Following the transaction, the executive vice president directly owned 96,048 shares of the company's stock, valued at $1,735,587.36. The trade was a 20.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,461,767 shares of company stock valued at $25,920,799 in the last quarter. Corporate insiders own 6.50% of the company's stock.

Analyst Ratings Changes

• Pitney Bowes NYSE: PBI is Surging, Is it Too Risky?

Several research analysts have commented on PBI shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $17.30 target price on shares of Pitney Bowes in a report on Thursday, July 30th. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Truist Financial increased their target price on shares of Pitney Bowes from $15.00 to $18.00 and gave the stock a "hold" rating in a research report on Friday, July 31st. Citigroup reissued a "market outperform" rating on shares of Pitney Bowes in a research report on Friday, July 31st. Finally, Citizens Jmp increased their price objective on Pitney Bowes from $19.00 to $22.00 and gave the stock a "market outperform" rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $18.45.

About Pitney Bowes

Pitney Bowes Inc NYSE: PBI is a global technology and services company that helps businesses manage mailing, shipping and related communications. Its offerings include postage meters, mailing systems, shipping software, parcel management tools, address and data services, and equipment financing and support.

The company serves small businesses, large enterprises and government organizations through solutions designed to streamline the preparation, processing and delivery of physical mail and packages.

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