Pitney Bowes (NYSE:PBI) Sets New 12-Month High Following Strong Earnings

Shares of Pitney Bowes Inc. (NYSE:PBIGet Free Report) reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $7.70 and last traded at $6.69, with a volume of 2740974 shares. The stock had previously closed at $5.68.

The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The firm had revenue of $793.17 million during the quarter, compared to analysts’ expectations of $771.65 million. During the same quarter in the prior year, the business earned ($0.02) EPS. Pitney Bowes’s quarterly revenue was up 2.1% compared to the same quarter last year.

Pitney Bowes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.04%. Pitney Bowes’s dividend payout ratio is presently -9.22%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Pitney Bowes from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd.

Get Our Latest Report on Pitney Bowes

Institutional Trading of Pitney Bowes

Several large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new stake in Pitney Bowes during the fourth quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Pitney Bowes in the second quarter valued at $48,000. William Howard & Co Financial Advisors Inc bought a new position in Pitney Bowes during the first quarter valued at about $52,000. Envestnet Portfolio Solutions Inc. acquired a new position in Pitney Bowes during the fourth quarter worth about $55,000. Finally, SageView Advisory Group LLC bought a new stake in Pitney Bowes in the first quarter worth about $57,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Stock Performance

The stock’s fifty day simple moving average is $5.85 and its two-hundred day simple moving average is $4.88. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.08, a P/E/G ratio of 5.28 and a beta of 1.99.

Pitney Bowes Company Profile

(Get Free Report)

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.

Further Reading

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