Pitney Bowes (NYSE:PBI) Downgraded by ValuEngine

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ValuEngine lowered shares of Pitney Bowes (NYSE:PBI) from a sell rating to a strong sell rating in a research report report published on Thursday, ValuEngine reports.

Several other analysts also recently weighed in on PBI. Maxim Group set a $9.00 target price on shares of Pitney Bowes and gave the company a buy rating in a report on Friday, May 31st. Zacks Investment Research upgraded shares of Green Brick Partners from a sell rating to a hold rating in a report on Wednesday, April 10th.

Pitney Bowes stock opened at $4.22 on Thursday. Pitney Bowes has a fifty-two week low of $3.41 and a fifty-two week high of $9.09. The company has a debt-to-equity ratio of 35.45, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a 50 day moving average of $4.21. The firm has a market cap of $762.66 million, a P/E ratio of 4.10 and a beta of 1.91.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.09). Pitney Bowes had a net margin of 4.77% and a return on equity of 99.26%. The company had revenue of $868.40 million during the quarter, compared to analyst estimates of $866.04 million. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts predict that Pitney Bowes will post 0.93 earnings per share for the current year.

In other Pitney Bowes news, VP Stanley J. Sutula III purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $5.34 per share, with a total value of $26,700.00. Following the transaction, the vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $80,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert M. Dutkowsky purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average cost of $5.22 per share, with a total value of $52,200.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $52,200. The disclosure for this purchase can be found here. Insiders acquired a total of 20,100 shares of company stock valued at $105,537 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PBI. Norges Bank purchased a new position in Pitney Bowes in the 4th quarter valued at approximately $13,178,000. Capital Management Corp VA purchased a new position in Pitney Bowes in the 1st quarter valued at approximately $6,431,000. Bank of New York Mellon Corp boosted its position in Pitney Bowes by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 7,116,066 shares of the technology company’s stock valued at $42,056,000 after buying an additional 749,752 shares during the period. Restructuring Capital Associates LP boosted its position in Pitney Bowes by 146.7% in the 4th quarter. Restructuring Capital Associates LP now owns 1,200,496 shares of the technology company’s stock valued at $7,095,000 after buying an additional 713,918 shares during the period. Finally, Spark Investment Management LLC lifted its position in shares of Pitney Bowes by 149.1% during the 1st quarter. Spark Investment Management LLC now owns 1,000,200 shares of the technology company’s stock worth $6,871,000 after purchasing an additional 598,700 shares during the last quarter. 73.99% of the stock is owned by institutional investors.

Pitney Bowes Company Profile

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: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.

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