Pitney Bowes (NYSE:PBI) Stock Rating Upgraded by StockNews.com

Pitney Bowes (NYSE:PBIGet Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, TheStreet downgraded shares of Pitney Bowes from a “c” rating to a “d+” rating in a research note on Thursday, July 28th.

Pitney Bowes Price Performance

Shares of PBI opened at $3.23 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 49.71. The stock has a market cap of $560.19 million, a PE ratio of 16.15 and a beta of 2.22. Pitney Bowes has a 12-month low of $3.17 and a 12-month high of $8.41. The business has a 50-day simple moving average of $3.91 and a two-hundred day simple moving average of $4.61.

Pitney Bowes (NYSE:PBIGet Rating) last released its quarterly earnings results on Thursday, July 28th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $871.50 million for the quarter, compared to the consensus estimate of $911.49 million. Pitney Bowes had a return on equity of 59.58% and a net margin of 0.97%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share.

Institutional Trading of Pitney Bowes

Several institutional investors have recently added to or reduced their stakes in PBI. Goldman Sachs Group Inc. raised its holdings in Pitney Bowes by 251.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,250,507 shares of the technology company’s stock worth $28,180,000 after purchasing an additional 3,041,923 shares during the last quarter. Millennium Management LLC increased its position in shares of Pitney Bowes by 272.3% during the fourth quarter. Millennium Management LLC now owns 3,596,559 shares of the technology company’s stock worth $23,845,000 after buying an additional 2,630,402 shares during the period. Permit Capital LLC acquired a new stake in shares of Pitney Bowes during the first quarter worth $8,320,000. EMG Holdings L.P. raised its stake in Pitney Bowes by 466.6% during the first quarter. EMG Holdings L.P. now owns 1,099,806 shares of the technology company’s stock worth $5,719,000 after buying an additional 1,399,806 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Pitney Bowes by 449.3% in the first quarter. Victory Capital Management Inc. now owns 1,465,174 shares of the technology company’s stock valued at $7,721,000 after buying an additional 1,198,461 shares during the period. 64.87% of the stock is currently owned by institutional investors.

Pitney Bowes Company Profile

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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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