S&P 500 (NYSE:SPY) component Pitney Bowes Inc. (NYSE:PBI) will unveil its latest earnings on Thursday, August 4, 2011. Pitney Bowes Inc. provides mail processing equipment and integrated mail solutions, including postage meters and office supplies.
Pitney Bowes Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 51 cents per share, a rise of 6.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 52 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 51 cents during the last month. For the year, analysts are projecting net income of $2.26 per share, a rise of 1.3% from last year.
Past Earnings Performance: The company met estimates last quarter after beating the forecasts in the prior two. In the first quarter, the company reported profit of 53 cents per share versus a mean estimate of net income of 53 cents per share. In the fourth quarter of the last fiscal year, the company beat estimates by 5 cents.
Wall St. Revenue Expectations: On average, analysts predict $1.32 billion in revenue this quarter, a rise of 1.5% from the year ago quarter. Analysts are forecasting total revenue of $5.55 billion for the year, a rise of 2.2% from last year’s revenue of $5.43 billion.
Analyst Ratings: The limited number of analysts covering the stock seem relatively indifferent about Pitney Bowes with two of three analysts surveyed maintaining a hold rating.
The increase in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit decreases. In the first quarter, net income rose 9.2% from the year earlier, while the figure dropped 36.1% in the fourth quarter of the last fiscal year, 13.8% in the third quarter of the last fiscal year and 47.7% in the second quarter of the last fiscal year.
Revenue has fallen in the past four quarters. Revenue declined 1.9% to $1.32 billion in first quarter. The figure fell 1.4% in the fourth quarter of the last fiscal year from the year earlier, dropped 0.8% in third quarter of the last fiscal year from the year-ago quarter and 5.9% in the second quarter of the last fiscal year.
Competitors to Watch: Xerox Corporation (NYSE:XRX), ACCO Brands Corporation (NYSE:ABD), Staples (NASDAQ:SPLS), OfficeMax (NYSE:OMX), Office Depot (NYSE:ODP), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), UPS (NYSE:UPS) and FedEx (NYSE:FDX).
Stock Price Performance: During May 4, 2011 to July 29, 2011, the stock price had fallen $2.77 (-11.4%) from $24.32 to $21.55. The stock price saw one of its best stretches over the last year between December 3, 2010 and December 20, 2010 when shares rose for 12-straight days, rising 8.5% (+$1.87) over that span. It saw one of its worst periods between July 7, 2011 and July 14, 2011 when shares fell for six-straight days, falling 5.4% (-$1.27) over that span. Shares are down $1.93 (-8.2%) year to date.
(Source: Xignite Financials)