Pitney Bowes (NYSE:PBI) Hits New 1-Year High - What's Next?

Shares of Pitney Bowes Inc. (NYSE:PBI - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $11.65 and last traded at $11.17, with a volume of 2175793 shares trading hands. The stock had previously closed at $11.48.

Analyst Ratings Changes

Several brokerages have recently weighed in on PBI. Sidoti raised Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th.

Pitney Bowes Stock Down 2.7%

The company has a market cap of $2.04 billion, a price-to-earnings ratio of -12.27, a PEG ratio of 0.61 and a beta of 1.60. The firm has a 50 day moving average price of $10.06 and a two-hundred day moving average price of $9.17.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative return on equity of 31.61% and a negative net margin of 7.18%. The company had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were issued a $0.07 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.28 annualized dividend and a yield of 2.51%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's dividend payout ratio is presently -30.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of Pitney Bowes in the first quarter valued at approximately $708,000. Intech Investment Management LLC increased its position in shares of Pitney Bowes by 15.5% during the first quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company's stock valued at $1,768,000 after acquiring an additional 26,260 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Pitney Bowes by 18.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company's stock valued at $4,258,000 after acquiring an additional 72,437 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Pitney Bowes during the first quarter valued at approximately $96,000. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of Pitney Bowes during the first quarter valued at approximately $341,000. Institutional investors own 67.88% of the company's stock.

About Pitney Bowes

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.

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