Pitney Bowes Inc. (PBI) Releases Earnings Results, Misses Estimates By $0.10 EPS
Pitney Bowes Inc. (NYSE:PBI) announced its earnings results on Wednesday. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10), Bloomberg Earnings reports. The business had revenue of $842.82 million during the quarter, compared to analyst estimates of $837.60 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share.
Pitney Bowes (NYSE:PBI) traded down 17.10% during trading on Wednesday, reaching $11.39. 6,601,752 shares of the company were exchanged. The stock has a market capitalization of $2.13 billion, a PE ratio of 22.38 and a beta of 1.21. The firm’s 50 day moving average is $13.67 and its 200 day moving average is $14.21. Pitney Bowes has a 52-week low of $11.20 and a 52-week high of $16.60.
A number of equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Cross Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Sidoti upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.67.
Pitney Bowes Company Profile
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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