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

Pitney Bowes (NYSE:PBI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Pitney Bowes Stock Performance

NYSE PBI opened at $4.99 on Wednesday. The business’s 50 day moving average price is $4.50 and its 200-day moving average price is $4.25. Pitney Bowes has a fifty-two week low of $2.80 and a fifty-two week high of $5.78. The company has a market cap of $892.61 million, a P/E ratio of -2.30, a P/E/G ratio of 35.00 and a beta of 2.14.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Thursday, May 2nd. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $831.00 million for the quarter, compared to the consensus estimate of $797.00 million. Pitney Bowes had a negative net margin of 11.67% and a negative return on equity of 3.09%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, equities analysts predict that Pitney Bowes will post 0.01 EPS for the current year.

Institutional Trading of Pitney Bowes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. William Howard & Co Financial Advisors Inc purchased a new stake in shares of Pitney Bowes in the first quarter valued at approximately $52,000. Tidal Investments LLC bought a new position in shares of Pitney Bowes during the 1st quarter worth $764,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Pitney Bowes by 10.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 98,956 shares of the technology company’s stock valued at $428,000 after buying an additional 9,222 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Pitney Bowes by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock valued at $957,000 after acquiring an additional 8,305 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Pitney Bowes by 21.6% in the first quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock worth $287,000 after acquiring an additional 11,753 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.