Pitney Bowes (NYSE:PBI) Trading Up 7.4%

Pitney Bowes Inc. (NYSE:PBI)’s share price was up 7.4% during mid-day trading on Friday . The stock traded as high as $3.47 and last traded at $3.47, approximately 4,577,086 shares changed hands during trading. An increase of 30% from the average daily volume of 3,512,146 shares. The stock had previously closed at $3.23.

Several equities research analysts recently issued reports on PBI shares. Maxim Group set a $9.00 price target on shares of Pitney Bowes and gave the company a “buy” rating in a report on Friday, May 31st. ValuEngine lowered shares of Pitney Bowes from a “sell” rating to a “strong sell” rating in a report on Thursday.

The company has a debt-to-equity ratio of 57.19, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $563.97 million, a P/E ratio of 2.99 and a beta of 1.92. The stock’s fifty day simple moving average is $4.00 and its two-hundred day simple moving average is $5.51.



Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. Pitney Bowes had a net margin of 4.07% and a return on equity of 113.87%. The firm had revenue of $860.78 million for the quarter, compared to analyst estimates of $861.66 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts expect that Pitney Bowes Inc. will post 0.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Thursday, August 22nd. Pitney Bowes’s payout ratio is 17.24%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Pitney Bowes by 24.9% during the 2nd quarter. BlackRock Inc. now owns 26,608,885 shares of the technology company’s stock worth $113,885,000 after acquiring an additional 5,311,931 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pitney Bowes by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,900,055 shares of the technology company’s stock worth $17,140,000 after purchasing an additional 118,348 shares during the period. Geode Capital Management LLC lifted its position in shares of Pitney Bowes by 28.9% in the 4th quarter. Geode Capital Management LLC now owns 2,530,553 shares of the technology company’s stock worth $14,955,000 after purchasing an additional 566,632 shares during the period. Norges Bank acquired a new position in shares of Pitney Bowes in the 4th quarter worth approximately $13,178,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Pitney Bowes by 100.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,800,000 shares of the technology company’s stock worth $7,704,000 after purchasing an additional 900,000 shares during the period. 74.66% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Company Profile (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.

Further Reading: Reverse Stock Split

Receive News & Ratings for Pitney Bowes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes and related companies with MarketBeat.com's FREE daily email newsletter.