Market Overview

Pitney Bowes Falls To 4-Year Low After Q4 Miss


Pitney Bowes Inc. (NYSE: PBI) shares are trading lower by $3.00 (19 percent) at $12.90 in Wednesday's session. Investors are heading to the exit following a Q4 EPS miss of $0.04 along with a shortfall in revenues of nearly $34 million.

This marks the seventh time in the last nine quarters the company has missed estimates; The outliers were when the company matched Wall Street estimates. On the revenue front, the company missed estimates in three of the its last 18 quarters going back to Q2 of 2012.

Its lower opening print of $15.08 has turned out to be high for the session. The ensuing decline has taken the issue to $12.41 and is attempting to reclaim the $13 handle. That marks the lowest level for the issue since January 2013, when it bottomed at $10.70.

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