Pitney Bowes (NYSE:PBI) Trading Up 4.1%

Pitney Bowes Inc. (NYSE:PBI)’s stock price rose 4.1% during trading on Tuesday . The stock traded as high as $4.32 and last traded at $4.32. Approximately 348,140 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,398,893 shares. The stock had previously closed at $4.15.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Monday, February 5th.

Pitney Bowes Trading Up 4.1 %

The company has a market cap of $767.53 million, a PE ratio of -1.89, a P/E/G ratio of 27.53 and a beta of 2.15. The business’s 50-day simple moving average is $4.11 and its 200-day simple moving average is $4.05.

Pitney Bowes (NYSE:PBI) last released its earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. Pitney Bowes had a negative net margin of 11.81% and a negative return on equity of 4.75%. The company had revenue of $871.58 million during the quarter, compared to the consensus estimate of $849.85 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Pitney Bowes Inc. will post 0.01 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, February 9th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 4.63%. Pitney Bowes’s payout ratio is -9.13%.

Institutional Investors Weigh In On Pitney Bowes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in Pitney Bowes by 13.3% in the 3rd quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company’s stock worth $8,251,000 after buying an additional 321,438 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Pitney Bowes by 164.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company’s stock worth $7,651,000 after purchasing an additional 1,082,506 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Pitney Bowes by 301.6% during the 3rd quarter. GSA Capital Partners LLP now owns 378,503 shares of the technology company’s stock worth $1,143,000 after purchasing an additional 284,244 shares during the last quarter. Barclays PLC increased its stake in shares of Pitney Bowes by 2.8% during the 3rd quarter. Barclays PLC now owns 155,396 shares of the technology company’s stock worth $469,000 after purchasing an additional 4,293 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in shares of Pitney Bowes by 20.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock worth $70,000 after purchasing an additional 2,753 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.