Pitney Bowes (NYSE:PBI) Stock Rating Lowered by Wall Street Zen

Pitney Bowes (NYSE:PBI) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Separately, Sidoti raised Pitney Bowes to a “hold” rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Pitney Bowes has an average rating of “Hold”.

Pitney Bowes Stock Performance

NYSE:PBI opened at $11.8250 on Friday. The company has a 50-day moving average of $11.32 and a 200-day moving average of $10.06. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -19.71, a PEG ratio of 0.58 and a beta of 1.54. Pitney Bowes has a 52 week low of $6.22 and a 52 week high of $13.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $461.91 million during the quarter, compared to analysts’ expectations of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. Pitney Bowes’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Sell-side analysts forecast that Pitney Bowes will post 1.21 EPS for the current year.

Pitney Bowes announced that its board has authorized a stock buyback plan on Wednesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares of the company’s stock, valued at approximately $1,401,016.70. This represents a 23.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in Pitney Bowes in the 1st quarter valued at approximately $36,000. EverSource Wealth Advisors LLC boosted its position in Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,015 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Pitney Bowes in the 2nd quarter valued at about $51,000. Canada Pension Plan Investment Board purchased a new position in Pitney Bowes in the 2nd quarter valued at about $51,000. Finally, KBC Group NV bought a new position in shares of Pitney Bowes during the first quarter worth about $65,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.