Pitney Bowes Inc. (PBI) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for PBI, as the stock is now down by nearly 9% from Jan 22.
Pitney Bowes recently reported $983.91 million in revenues for the fourth quarter, which declined 2.6% on a year-over-year basis.
The business equipment company has seen a flat track record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
PBI currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the broader Computer & Technology sector is Apple Inc. (AAPL), holding a Zacks Rank #2 (Buy).
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