Separately, Maxim Group set a $9.00 price objective on Pitney Bowes and gave the company a buy rating in a report on Friday, May 31st.
Shares of PBI opened at $3.47 on Thursday. The firm has a market capitalization of $552.01 million, a P/E ratio of 2.99 and a beta of 1.92. Pitney Bowes has a 12-month low of $3.14 and a 12-month high of $8.56. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 57.19. The firm has a fifty day moving average price of $4.00 and a 200-day moving average price of $5.51.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 23rd will be issued a $0.05 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.20 annualized dividend and a dividend yield of 5.76%. Pitney Bowes’s payout ratio is currently 17.24%.
Hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH bought a new stake in shares of Pitney Bowes in the second quarter valued at about $47,000. Homrich & Berg bought a new stake in shares of Pitney Bowes in the second quarter valued at about $53,000. First Quadrant L P CA bought a new stake in shares of Pitney Bowes in the second quarter valued at about $54,000. Financial Gravity Wealth Inc. bought a new position in Pitney Bowes in the first quarter worth about $65,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Pitney Bowes in the first quarter worth about $71,000. Hedge funds and other institutional investors own 74.66% of the company’s stock.
Pitney Bowes Company Profile
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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