Zacks Investment Research Lowers Pitney Bowes (PBI) to Sell

Zacks Investment Research downgraded shares of Pitney Bowes (NYSE:PBI) from a hold rating to a sell rating in a research report released on Tuesday.

According to Zacks, “Pitney Bowes has a choppy earnings history, having missed estimate twice in the trailing four quarters, for as many beats. The company’s concerted efforts to transform its business have started to yield results, as evident from growth across most business lines during recent quarters. Further, the company’s efforts to optimize its new enterprise business platform to boost profitability are showing impressive results. This apart, the thriving global ecommerce business and new product launches are anticipated to bolster the top line. However, over the past year, Pitney Bowes’ shares have witnessed a steep negative return against the industry’s average growth. As the company continues to transform its portfolio and make necessary investments to boost sales, it expects pressure on margins on account in the short term. Changing business mix is also likely to impact the bottom line adversely.”

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Separately, ValuEngine downgraded Pitney Bowes from a buy rating to a hold rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $14.50.

Shares of Pitney Bowes stock traded down $0.10 during trading hours on Tuesday, hitting $10.85. 258,650 shares of the company’s stock traded hands, compared to its average volume of 2,171,454. The company has a debt-to-equity ratio of 18.92, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market capitalization of $2,071.39, a PE ratio of 7.81 and a beta of 1.13. Pitney Bowes has a twelve month low of $9.50 and a twelve month high of $16.25.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. equities analysts expect that Pitney Bowes will post 1.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.75 annualized dividend and a dividend yield of 6.91%. Pitney Bowes’s dividend payout ratio is presently 53.19%.

Institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB acquired a new position in Pitney Bowes in the fourth quarter worth about $202,000. Envestnet Asset Management Inc. grew its stake in Pitney Bowes by 247.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 128,177 shares of the technology company’s stock worth $1,433,000 after purchasing an additional 91,242 shares in the last quarter. Meitav Dash Investments Ltd. acquired a new position in Pitney Bowes in the fourth quarter worth about $475,000. Segall Bryant & Hamill LLC grew its stake in Pitney Bowes by 9.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 674,791 shares of the technology company’s stock worth $7,544,000 after purchasing an additional 60,360 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Pitney Bowes in the fourth quarter worth about $1,321,000. Institutional investors own 75.60% of the company’s stock.

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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: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.

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