StockNews.com Upgrades Pitney Bowes (NYSE:PBI) to Buy

Pitney Bowes (NYSE:PBI - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Wednesday.

Pitney Bowes Stock Down 3.3 %

Shares of PBI stock traded down $0.17 during mid-day trading on Wednesday, reaching $5.08. The company's stock had a trading volume of 1,866,015 shares, compared to its average volume of 1,503,112. The company's 50 day simple moving average is $4.48 and its 200-day simple moving average is $4.24. Pitney Bowes has a 12-month low of $2.80 and a 12-month high of $5.78. The firm has a market capitalization of $907.82 million, a PE ratio of -2.34, a price-to-earnings-growth ratio of 35.20 and a beta of 2.14.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Thursday, May 2nd. The technology company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. Pitney Bowes had a negative net margin of 11.67% and a negative return on equity of 3.09%. The business had revenue of $831.00 million for the quarter, compared to the consensus estimate of $797.00 million. During the same quarter last year, the firm posted ($0.01) EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Pitney Bowes will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Pitney Bowes

A number of large investors have recently added to or reduced their stakes in PBI. Assenagon Asset Management S.A. grew its holdings in Pitney Bowes by 164.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company's stock valued at $7,651,000 after purchasing an additional 1,082,506 shares in the last quarter. Clifford Capital Partners LLC grew its holdings in Pitney Bowes by 27.0% during the 3rd quarter. Clifford Capital Partners LLC now owns 4,428,463 shares of the technology company's stock valued at $13,374,000 after purchasing an additional 940,595 shares in the last quarter. Steward Partners Investment Solutions LLC acquired a new stake in Pitney Bowes during the 4th quarter valued at $1,869,000. Hsbc Holdings PLC grew its holdings in Pitney Bowes by 58.2% during the 4th quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company's stock valued at $4,145,000 after purchasing an additional 349,599 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Pitney Bowes by 13.3% during the 3rd quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company's stock valued at $8,251,000 after purchasing an additional 321,438 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Company Profile

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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