Pitney Bowes, Inc. (PBI - Analyst Report) stock dropped 9.1% to $21.80 on Monday, though the stock managed to make a little bit back to trade around the $22/share mark following the company’s failure to reach analysts’ revenue estimates in the fourth quarter.
The business equipment company reached $983.91 million in revenue for the fourth quarter, which was a 2.6% decline from the past year’s quarter, and below analysts’ estimates of $1.03 billion. They also announced earnings of $0.51 per share for the quarter, which was in line with estimates.
For 2015, Pitney Bowes forecasts earnings of $1.85 to $2 a share, in contrast with the $1.99 consensus analyst estimate.
The company predicts revenue to be static or increase by 3% in comparison with its 2014 revenue of $3.8 billion. Analysts estimate a revenue of $3.89 billion for the year.
The Zacks team rates Pitney Bowes Inc as a Zacks Rank #3 (Hold). Take a look at our Detailed Estimates page for a rundown of the company’s current and future earnings expectations.
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