Pitney Bowes Inc. (NYSE:PBI) to Post Q3 2024 Earnings of $0.02 Per Share, Sidoti Csr Forecasts

Pitney Bowes Inc. (NYSE:PBIFree Report) – Investment analysts at Sidoti Csr reduced their Q3 2024 earnings per share (EPS) estimates for shares of Pitney Bowes in a note issued to investors on Friday, February 2nd. Sidoti Csr analyst A. Lebiedzinski now expects that the technology company will earn $0.02 per share for the quarter, down from their prior forecast of $0.08. The consensus estimate for Pitney Bowes’ current full-year earnings is $0.22 per share. Sidoti Csr also issued estimates for Pitney Bowes’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.09 EPS and FY2025 earnings at $0.25 EPS.

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

Check Out Our Latest Stock Report on Pitney Bowes

Pitney Bowes Trading Up 5.1 %

Shares of NYSE:PBI opened at $3.93 on Monday. Pitney Bowes has a 1 year low of $2.80 and a 1 year high of $4.63. The business has a fifty day simple moving average of $4.21 and a 200 day simple moving average of $3.76. The firm has a market cap of $692.98 million, a price-to-earnings ratio of -1.79, a P/E/G ratio of 1.23 and a beta of 2.17.

Pitney Bowes (NYSE:PBIGet Free Report) last released its earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $871.58 million during the quarter, compared to analyst estimates of $849.85 million. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share.

Pitney Bowes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Friday, February 9th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.20 annualized dividend and a yield of 5.09%. Pitney Bowes’s dividend payout ratio (DPR) is currently -9.13%.

Hedge Funds Weigh In On Pitney Bowes

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Pitney Bowes by 1.7% in the first quarter. Vanguard Group Inc. now owns 19,956,333 shares of the technology company’s stock worth $103,773,000 after purchasing an additional 335,612 shares during the period. BlackRock Inc. boosted its holdings in shares of Pitney Bowes by 1.7% in the 3rd quarter. BlackRock Inc. now owns 17,123,358 shares of the technology company’s stock worth $39,897,000 after acquiring an additional 285,776 shares in the last quarter. State Street Corp boosted its holdings in shares of Pitney Bowes by 2.1% in the 2nd quarter. State Street Corp now owns 6,410,485 shares of the technology company’s stock worth $23,206,000 after acquiring an additional 130,138 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Pitney Bowes by 40.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,986,689 shares of the technology company’s stock worth $21,672,000 after acquiring an additional 1,711,020 shares in the last quarter. Finally, Capital Management Corp VA boosted its holdings in shares of Pitney Bowes by 2.3% in the 3rd quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock worth $13,709,000 after acquiring an additional 104,190 shares in the last quarter. 70.69% of the stock is currently owned by institutional investors.

About Pitney Bowes

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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, Canada, and internationally. It operates through Global Ecommerce, Presort Services, and Sending Technology Solutions (SendTech Solutions) segments.

Further Reading

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