Pitney Bowes (NYSE:PBI) Reaches New 12-Month High - Should You Buy?

Key Points

• Pitney Bowes shares hit a new 52-week high, trading as high as $18.49 and ending the session up about 3.6% at $18.4450.
• Analysts have become more constructive on the stock, with recent price target increases from firms like Truist Financial and Bank of America. The current consensus rating is Moderate Buy with an average price target of $16.43.
• The company reported quarterly earnings in line with estimates, posting $0.47 EPS on revenue of $477.41 million, while also paying a small quarterly dividend of $0.01 per share. However, insiders, including CEO Kurt James Wolf, have recently sold a significant amount of stock.

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $18.49 and last traded at $18.4450, with a volume of 680714 shares. The stock had previously closed at $17.70.

Analysts Set New Price Targets

A number of brokerages have issued reports on PBI. Truist Financial raised their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. Citigroup reiterated a "market outperform" rating on shares of Pitney Bowes in a research report on Tuesday, June 16th. Wall Street Zen upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 25th. Weiss Ratings upgraded Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. Finally, Bank of America raised Pitney Bowes from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.43.

Pitney Bowes Trading Up 3.6%

The firm's fifty day moving average price is $16.51 and its 200-day moving average price is $12.94. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 0.78 and a beta of 1.62.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business had revenue of $477.41 million for the quarter, compared to the consensus estimate of $471.83 million. During the same quarter last year, the business posted $0.33 EPS. The firm's revenue was down 3.2% compared to the same quarter last year. As a group, research analysts anticipate that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pitney Bowes's dividend payout ratio (DPR) is currently 38.83%.

Insider Buying and Selling at Pitney Bowes

In related news, CEO Kurt James Wolf sold 966,561 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total value of $14,092,459.38. Following the completion of the transaction, the chief executive officer directly owned 452,628 shares in the company, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 3,351,337 shares of company stock worth $53,313,134. Insiders own 6.50% of the company's stock.

Institutional Trading of Pitney Bowes

Several hedge funds have recently bought and sold shares of PBI. Longview Financial Advisors Inc. acquired a new position in shares of Pitney Bowes in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after acquiring an additional 1,015 shares during the period. Hantz Financial Services Inc. lifted its position in Pitney Bowes by 190.9% in the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock valued at $40,000 after acquiring an additional 2,459 shares in the last quarter. UMB Bank n.a. lifted its position in Pitney Bowes by 404.6% in the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company's stock valued at $43,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Pitney Bowes in the 2nd quarter worth $51,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

About Pitney Bowes

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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