Pitney Bowes Inc. (PBI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Pitney Bowes Inc. (NYSE:PBI) from a hold rating to a buy rating in a research note issued to investors on Thursday. Zacks Investment Research currently has $17.00 price target on the technology company’s stock.

According to Zacks, “Pitney Bowes’ concerted efforts to transform its business over the past three years have started to show results, as is evident from growth across most business lines during first-quarter 2017. Especially, the company’s Software business witnessed a rebound on the back of these concerted transformation initiatives, after years of dismal performance. Also, the company’s efforts to optimize its new enterprise business platform to boost profitability are showing impressive results. Going forward, the company believes that positive industry trends, new products and digital capabilities within SMB and robust momentum of Global Ecommerce will act as strong growth drivers. Despite these positives, over the past six months, Pitney Bowes’ shares have underperformed the Zacks categorized Office Automation & Equipment. High incremental marketing expense and prolonged weakness in mailing business pose as major headwinds.”

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Pitney Bowes from a buy rating to a hold rating in a research note on Friday, June 2nd. Sidoti downgraded shares of Pitney Bowes from a buy rating to a neutral rating in a research note on Monday, May 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Pitney Bowes has an average rating of Hold and an average target price of $18.50.

Pitney Bowes (NYSE PBI) traded up 0.33% during trading on Thursday, hitting $15.41. 348,089 shares of the company traded hands. The company’s 50 day moving average is $15.32 and its 200-day moving average is $14.49. Pitney Bowes has a 52 week low of $12.31 and a 52 week high of $19.33. The stock has a market capitalization of $2.87 billion, a PE ratio of 28.91 and a beta of 1.19.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. The company had revenue of $836.60 million for the quarter, compared to the consensus estimate of $817.07 million. Pitney Bowes had a net margin of 3.28% and a return on equity of 2,282.68%. Pitney Bowes’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Analysts predict that Pitney Bowes will post $1.74 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 26th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Wednesday, May 24th. Pitney Bowes’s payout ratio is 138.89%.

In other Pitney Bowes news, Director Linda S. Sanford purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $15.09 per share, with a total value of $75,450.00. Following the completion of the purchase, the director now directly owns 18,690 shares in the company, valued at $282,032.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.01% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC increased its stake in Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock worth $146,000 after buying an additional 500 shares during the last quarter. Trexquant Investment LP acquired a new stake in Pitney Bowes during the first quarter worth about $149,000. Fox Run Management L.L.C. acquired a new stake in Pitney Bowes during the first quarter worth about $159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Pitney Bowes by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,649 shares of the technology company’s stock worth $162,000 after buying an additional 49 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in Pitney Bowes during the fourth quarter worth about $185,000. 79.01% of the stock is currently owned by institutional investors.

About Pitney Bowes

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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