Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 4% on Thursday . The stock traded as low as $3.18 and last traded at $3.15, 67,398 shares were traded during mid-day trading. A decline of 97% from the average session volume of 2,678,938 shares. The stock had previously closed at $3.28.
Several equities research analysts have recently weighed in on the company. ValuEngine lowered Pitney Bowes from a “sell” rating to a “strong sell” rating in a research note on Thursday. Maxim Group set a $9.00 price objective on Pitney Bowes and gave the company a “buy” rating in a research note on Friday, May 31st.
The company has a market capitalization of $615.24 million, a P/E ratio of 2.78 and a beta of 1.92. The firm has a 50 day moving average price of $4.01 and a two-hundred day moving average price of $5.52. The company has a debt-to-equity ratio of 57.19, a quick ratio of 1.19 and a current ratio of 1.23.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Pitney Bowes had a return on equity of 113.87% and a net margin of 4.07%. The company had revenue of $860.78 million for the quarter, compared to analyst estimates of $861.66 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that Pitney Bowes Inc. will post 0.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.19%. The ex-dividend date is Thursday, August 22nd. Pitney Bowes’s payout ratio is currently 17.24%.
Institutional investors and hedge funds have recently made changes to their positions in the company. World Asset Management Inc boosted its holdings in shares of Pitney Bowes by 46.8% in the 1st quarter. World Asset Management Inc now owns 18,337 shares of the technology company’s stock worth $126,000 after acquiring an additional 5,848 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Pitney Bowes by 5,667.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 52,484 shares of the technology company’s stock worth $359,000 after acquiring an additional 51,574 shares in the last quarter. Parsec Financial Management Inc. acquired a new position in shares of Pitney Bowes in the 1st quarter worth approximately $172,000. Cetera Advisor Networks LLC acquired a new position in shares of Pitney Bowes in the 1st quarter worth approximately $89,000. Finally, Norges Bank acquired a new position in shares of Pitney Bowes in the 4th quarter worth approximately $13,178,000. 74.66% of the stock is currently owned by institutional investors and hedge funds.
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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