Pitney Bowes (NYSE:PBI) Stock Price Up 4.1%

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Pitney Bowes from a "buy" rating to a "hold" rating in a research note on Monday, February 5th.

Pitney Bowes Price Performance

The company's 50-day simple moving average is $4.11 and its two-hundred day simple moving average is $4.05. The firm has a market capitalization of $756.87 million, a P/E ratio of -1.97, a P/E/G ratio of 27.53 and a beta of 2.15.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 11.81% and a negative return on equity of 4.75%. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Analysts predict that Pitney Bowes Inc. will post 0.01 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, February 9th were paid 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 4.69%. Pitney Bowes's payout ratio is presently -9.13%.

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently made changes to their positions in PBI. Capital Management Corp VA increased its holdings in shares of Pitney Bowes by 2.3% in the third quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company's stock worth $13,709,000 after purchasing an additional 104,190 shares during the last quarter. Clifford Capital Partners LLC boosted its position in shares of Pitney Bowes by 27.0% during the 3rd quarter. Clifford Capital Partners LLC now owns 4,428,463 shares of the technology company's stock valued at $13,374,000 after acquiring an additional 940,595 shares during the last quarter. Invesco Ltd. increased its position in Pitney Bowes by 13.3% in the third quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company's stock worth $8,251,000 after purchasing an additional 321,438 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Pitney Bowes by 164.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company's stock valued at $7,651,000 after purchasing an additional 1,082,506 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Pitney Bowes by 58.2% during the fourth quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company's stock valued at $4,145,000 after purchasing an additional 349,599 shares during the last quarter. 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.