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

Shares of Pitney Bowes Inc. (NYSE:PBI) 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.

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

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.