Pitney Bowes (NYSE:PBI) Sets New 12-Month High - Time to Buy?

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

Analysts Set New Price Targets

Several analysts recently issued reports on PBI shares. Wall Street Zen lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th.

Pitney Bowes Stock Down 0.7%

The company has a market cap of $2.01 billion, a PE ratio of -12.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.60. The business has a 50-day simple moving average of $10.24 and a 200-day simple moving average of $9.25.

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

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were paid a dividend of $0.07 per share. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.55%. The ex-dividend date was Monday, May 19th. Pitney Bowes's dividend payout ratio is presently -30.77%.

Institutional Trading of Pitney Bowes

A number of large investors have recently modified their holdings of the stock. PFG Investments LLC increased its position in shares of Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after acquiring an additional 1,644 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Pitney Bowes by 11.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock worth $130,000 after purchasing an additional 1,878 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Pitney Bowes by 16.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,896 shares of the technology company's stock worth $182,000 after purchasing an additional 2,194 shares during the period. Federated Hermes Inc. increased its holdings in Pitney Bowes by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock worth $740,000 after purchasing an additional 2,711 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Pitney Bowes by 8.6% during the fourth quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock worth $270,000 after buying an additional 2,962 shares during the period. Hedge funds and other 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.