The stock of Pitney Bowes Inc. (NYSE:PBI) is now priced at $5.49 and the shares are -0.35 points down or -5.99% lower compared to its previous closing price of $5.84. The stock had 4.054 million contracts set over the past session. PBI shares’ daily volume is compared to its average trading volume at 3.505 million shares. However, it has a float of 163 million and although its performance was -9.26% over the week, it’s one to watch. Analysts have given the PBI stock a yearly average price target of $5.5 per share. It means the stock’s upside potential is 0.18% with the PBI share price recently placing at $5.48 to $5.89. However, some brokerage firms have priced the stock below the average, including one that has called $3.5.
The shorts are running away from the Pitney Bowes Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PBI shares have declined. Short interest in the stock represents just 14.66% of its float, but the volume has dropped by 0.
In the last trading session, Pitney Bowes Inc. (NYSE:PBI) dropped by -$0.56 over the week and gained $0.6 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.16. The stock recorded its established 52-week high on 08/11/20.
Since 04/03/20, the stock has traded to a low of $1.67 at 228.74%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 3.08. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Pitney Bowes Inc.’s two-week RSI is 54.44. This suggests that the stock is neutral at the moment and that PBI shares’ price movement remains stable. The stochastic readings are equally revealing at 11.34% meaning the PBI share price is currently in overbought territory.
The technical chart shows that the PBI stock will likely settle at between $5.76 and $6.03 per share. However, if the stock dips below $5.35, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.21.
Currently, the stock is trading in the red of MACD, with a reading of -0.16. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at National Securities raised their recommendation for PBI from Neutral to Buy in August 03 review. National Securities analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on May 05. Northcoast seeing the stock struggling downgraded it from Buy to Neutral on February 06.
The average rating for the PBI equity is 3 and is currently gathering a bullish momentum. Of 5 analysts tracking Pitney Bowes Inc. polled by Reuters, 3 rated PBI as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PBI stock price is 11.16X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 18.3. Pitney Bowes Inc. has its P/E ratio at 21.3, which means that the stock is currently trading at a premium relative to the 3.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Pitney Bowes Inc. (NYSE:PBI) will decrease by about -99.9%, which will see them reach $851 million. The company’s full-year revenues are, however, expected to increase by about 4.98%, up from $3210 million to $3370 million. PBI’s expected adjusted earnings should drop almost -79.17% to end up at $0.05 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -66.18% to record $0.23/share.