NEW YORK (TheStreet) -- Shares of Pitney Bowes (PBI) were dropping 17.43% to $14.73 on heavy trading volume late Tuesday morning after the company reported lower-than-anticipated 2016 third quarter results.

Before the market open, the Stamford, CT-based e-commerce solutions provider posted adjusted earnings of 44 cents per share, falling short of analysts' estimates of 46 cents per share.

Revenue fell 4% over last year to $839 million and missed Wall Street's projections of $856 million.

For the full year, Pitney Bowes expects adjusted earnings per share between $1.75 and $1.82. Analysts are looking for full-year adjusted earnings of $1.76 per share.

The company anticipates that full-year revenue will decline year-over-year between 1% and 3%. In 2015, Pitney Bowes posted revenue of $3.58 billion for the year.

More than 5.38 million shares of the company have traded so far today vs. the 30-day average of 1.11 million.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B-.

The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: PBI

 

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