Pitney Bowes (NYSE:PBI) Issues Quarterly Earnings Results

Key Points

• Pitney Bowes reported a quarterly earnings per share (EPS) of $0.27, matching analysts' expectations, but experienced a 5.7% decline in revenue year-over-year, totaling $461.91 million.
• The company announced a quarterly dividend increase to $0.08 per share, reflecting a positive change from the previous $0.07, with a yield of 2.8%.
• Pitney Bowes authorized a $400 million share buyback plan, indicating the board's confidence in the stock's valuation and the potential for future growth.

Pitney Bowes (NYSE:PBI - Get Free Report) posted its quarterly earnings results on Wednesday. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27, Zacks reports. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 37.88%. The business had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company's revenue was down 5.7% on a year-over-year basis. Pitney Bowes updated its FY 2025 guidance to 1.200-1.400 EPS.

Pitney Bowes Stock Up 0.1%

Shares of NYSE PBI traded up $0.02 on Friday, reaching $11.38. 1,661,072 shares of the company's stock traded hands, compared to its average volume of 2,483,407. Pitney Bowes has a 12 month low of $5.58 and a 12 month high of $13.11. The business's 50 day simple moving average is $10.99 and its two-hundred day simple moving average is $9.70. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -18.99, a price-to-earnings-growth ratio of 0.61 and a beta of 1.60.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.08 per share. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 11th. Pitney Bowes's payout ratio is -30.77%.

Pitney Bowes declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 30th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the technology company to buy up to 18.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PBI has been the subject of a number of analyst reports. 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.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.00% of the company's stock.

Hedge Funds Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently made changes to their positions in the business. United Services Automobile Association bought a new stake in shares of Pitney Bowes during the first quarter valued at approximately $96,000. Royal Bank of Canada boosted its stake in shares of Pitney Bowes by 133.1% during the 1st quarter. Royal Bank of Canada now owns 52,958 shares of the technology company's stock worth $478,000 after acquiring an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Pitney Bowes by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company's stock worth $882,000 after acquiring an additional 5,149 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Pitney Bowes by 15.5% during the 1st quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company's stock worth $1,768,000 after acquiring an additional 26,260 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Pitney Bowes by 18.2% during the 1st 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 purchasing an additional 72,437 shares during the period. 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.

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