Pitney Bowes (PBI) Receives a Buy from Maxim Group


Maxim Group analyst Allen Klee reiterated a Buy rating on Pitney Bowes (NYSE: PBI) today and set a price target of $12. The company’s shares closed yesterday at $6.91, close to its 52-week low of $6.59.

Klee commented:

“Summary We forecast 3Q18 revenue of $866.4 million, up 18% y/y and ahead of consensus of $852.7 million. Better revenue growth is primarily as a result of the contribution from the Newgistics acquisition, which provides package delivery and returns. 3Q18 results are due on Thursday, November 1; our 3Q18 EPS estimate of $0.26 is in line with consensus and flat sequentially and y/y. Results reflect continued declines in legacy postal related businesses offset by growth in Software, Presort and Ecommerce. We model $1.16 in EPS in 2018, which we expect to be the trough in earnings, then growing to $1.22 in 2019 due to better contribution from growth areas and benefits from cost cutting.”

According to TipRanks.com, Klee is ranked 0 out of 5 stars with an average return of -7.1% and a 30.3% success rate. Klee covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Net 1 Ueps, and Stampscom.

Pitney Bowes has an analyst consensus of Moderate Buy, with a price target consensus of $14.

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Pitney Bowes’ market cap is currently $1.29B and has a P/E ratio of 5.20. The company has a Price to Book ratio of 6.62.

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Pitney Bowes, Inc. is a technology company which engages in the provision of products and solutions in the commerce industry. It offers information management, location intelligence, and customer engagement products and solutions and also provides shipping, mailing, fulfillment, returns and cross-border ecommerce products and solutions that enable the sending of parcels and packages across the globe. The company operates through the following segments: Small and Medium Business Solutions, Enterprise Business Solutions, and Digital Commerce Solutions. The Small and Medium Business Solutions segment provides equipment, software, supplies, and services that enable its customers to efficiently create physical and digital mail and evidence postage for the sending of mail, flats and parcels. The Enterprise Business Solutions segment includes equipment and services that enable large enterprises to process inbound and outbound mail. It includes the production mail operations and presort services operations. The Digital Commerce Solutions offers customer information management, location intelligence and customer engagement software, and shipping management and cross border ecommerce solutions for businesses of all sizes. Its solutions are delivered as traditional software licenses, enterprise platforms, software-as-a-service, and on-demand applications. Pitney Bowes was founded by Arthur H. Pitney and Walter Bowes on April 23, 1920 and is headquartered in Stamford, CT.

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