Pitney Bowes Inc. (NYSE:PBI) shares fell 4% during mid-day trading on Thursday . The company traded as low as $3.18 and last traded at $3.15, 67,398 shares changed hands during trading. A decline of 97% from the average session volume of 2,678,938 shares. The stock had previously closed at $3.28.
A number of research firms recently issued reports on PBI. Maxim Group set a $9.00 price objective on Pitney Bowes and gave the company a “buy” rating in a research report on Friday, May 31st. ValuEngine cut Pitney Bowes from a “sell” rating to a “strong sell” rating in a research report on Thursday.
The business has a 50-day simple moving average of $4.01 and a two-hundred day simple moving average of $5.52. The company has a market cap of $615.24 million, a price-to-earnings ratio of 2.78 and a beta of 1.92. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 57.19.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd will be given a $0.05 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.19%. Pitney Bowes’s dividend payout ratio is currently 17.24%.
Large investors have recently made changes to their positions in the business. Trust Co. of Toledo NA OH acquired a new stake in shares of Pitney Bowes in the second quarter worth about $47,000. Homrich & Berg acquired a new stake in shares of Pitney Bowes in the second quarter worth about $53,000. First Quadrant L P CA acquired a new stake in shares of Pitney Bowes in the second quarter worth about $54,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Pitney Bowes in the first quarter worth about $65,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Pitney Bowes in the first quarter worth about $71,000. 74.66% of the stock is owned by institutional investors.
About Pitney Bowes (NYSE:PBI)
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
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