Pitney Bowes (NYSE:PBI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Pitney Bowes (NYSE:PBI) from a hold rating to a buy rating in a research report report published on Friday morning.

Pitney Bowes Stock Up 0.4 %

Shares of NYSE PBI opened at $5.29 on Friday. The stock has a market cap of $946.28 million, a PE ratio of -2.44, a price-to-earnings-growth ratio of 35.13 and a beta of 2.14. Pitney Bowes has a 52-week low of $2.80 and a 52-week high of $5.51. The business has a 50-day moving average price of $4.21 and a 200 day moving average price of $4.09.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Thursday, May 2nd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $831.00 million during the quarter, compared to analysts’ expectations of $797.00 million. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. Sell-side analysts anticipate that Pitney Bowes will post 0.01 earnings per share for the current year.

Pitney Bowes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 23rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.78%. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

Institutional Trading of Pitney Bowes

A number of hedge funds have recently added to or reduced their stakes in PBI. National Bank of Canada FI acquired a new stake in Pitney Bowes during the 4th quarter worth approximately $30,000. Syon Capital LLC acquired a new stake in Pitney Bowes during the 3rd quarter worth approximately $32,000. CenterBook Partners LP acquired a new stake in Pitney Bowes during the 3rd quarter worth approximately $33,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Pitney Bowes during the 4th quarter worth approximately $55,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Pitney Bowes by 50.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock worth $56,000 after acquiring an additional 6,279 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

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.