Pitney Bowes (NYSE:PBI - Get Free Report) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Thursday.
Separately, Sidoti upgraded Pitney Bowes to a "hold" rating in a report on Monday, May 5th.
View Our Latest Stock Analysis on PBI
Pitney Bowes Price Performance
Shares of PBI stock traded down $0.09 during mid-day trading on Thursday, hitting $9.46. The stock had a trading volume of 1,426,189 shares, compared to its average volume of 2,089,434. Pitney Bowes has a 12-month low of $4.62 and a 12-month high of $11.01. The firm has a market capitalization of $1.73 billion, a P/E ratio of -8.44, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. The firm's 50-day moving average is $8.81 and its two-hundred day moving average is $8.48.
Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The business had revenue of $493.42 million during the quarter, compared to analysts' expectations of $498.99 million. During the same period in the prior year, the business earned ($0.01) EPS. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts expect that Pitney Bowes will post 1.21 EPS for the current year.
Insider Buying and Selling
In related news, Director Kurt James Wolf sold 481,199 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the completion of the sale, the director now directly owns 584,636 shares in the company, valued at $6,296,529.72. This represents a 45.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James Arthur Fairweather sold 130,000 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the sale, the executive vice president now owns 176,145 shares of the company's stock, valued at $1,907,650.35. This trade represents a 42.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 613,244 shares of company stock worth $6,607,591 in the last three months. 9.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Pitney Bowes
A number of hedge funds have recently made changes to their positions in PBI. Meeder Asset Management Inc. purchased a new stake in Pitney Bowes in the fourth quarter valued at about $31,000. Quantbot Technologies LP purchased a new stake in Pitney Bowes in the first quarter valued at about $36,000. Smartleaf Asset Management LLC raised its stake in Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock valued at $37,000 after buying an additional 2,873 shares during the last quarter. KBC Group NV purchased a new stake in Pitney Bowes in the first quarter valued at about $65,000. Finally, United Services Automobile Association purchased a new stake in Pitney Bowes in the first quarter valued at about $96,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.
Pitney Bowes Company Profile
(
Get Free Report)
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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