Pitney Bowes (NYSE:PBI) Reaches New 52-Week High - Time to Buy?

Key Points

• Pitney Bowes hit a new 52-week high, trading as high as $16.56 and finishing near $16.39, up about 4.2% on the day.
• Recent analyst actions have been mixed but generally improved, with upgrades and higher price targets from firms like Bank of America and Truist. The consensus rating is now Moderate Buy with an average target price of $15.18.
• The company posted quarterly EPS in line with expectations at $0.47, while revenue came in slightly above estimates at $477.4 million. Pitney Bowes also cut its dividend to $0.01 per quarter, reflecting a very low annual yield of 0.2%.

Pitney Bowes Inc. (NYSE:PBI - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $16.56 and last traded at $16.3880, with a volume of 1094753 shares changing hands. The stock had previously closed at $15.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PBI. Weiss Ratings upgraded shares of Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 8th. Truist Financial increased their target price on Pitney Bowes from $11.00 to $15.00 and gave the stock a "hold" rating in a report on Thursday, May 7th. Bank of America upgraded Pitney Bowes from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $9.50 to $16.50 in a report on Monday, May 11th. Citizens Jmp upped their price objective on Pitney Bowes from $13.00 to $14.00 and gave the stock a "market outperform" rating in a research report on Friday, April 17th. Finally, Citigroup reiterated an "outperform" rating on shares of Pitney Bowes in a report on Friday, April 17th. One 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $15.18.

Pitney Bowes Trading Up 4.2%

The firm's 50 day simple moving average is $12.52 and its 200-day simple moving average is $11.03. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 0.71 and a beta of 1.64.

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

Pitney Bowes Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, May 18th. Pitney Bowes's dividend payout ratio (DPR) is currently 34.95%.

Insider Activity at Pitney Bowes

In other news, Director Brent D. Rosenthal bought 4,000 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $10.22 per share, with a total value of $40,880.00. Following the completion of the purchase, the director owned 9,000 shares of the company's stock, valued at $91,980. This represents a 80.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kurt James Wolf sold 966,561 shares of the business's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the transaction, the chief executive officer owned 452,628 shares in the company, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,456,054 shares of company stock worth $34,864,180 in the last ninety days. Insiders own 6.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PBI. EverSource Wealth Advisors LLC increased its stake in shares of Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after purchasing an additional 1,015 shares during the last quarter. Advisory Services Network LLC lifted its stake in Pitney Bowes by 2.4% in the 3rd quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company's stock valued at $604,000 after purchasing an additional 1,234 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Pitney Bowes by 12.5% during the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company's stock worth $144,000 after purchasing an additional 1,459 shares during the period. Amalgamated Bank increased its position in Pitney Bowes by 3.4% during the third quarter. Amalgamated Bank now owns 46,680 shares of the technology company's stock worth $533,000 after buying an additional 1,555 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Pitney Bowes by 17.6% during the third quarter. Stratos Wealth Partners LTD. now owns 11,993 shares of the technology company's stock worth $137,000 after buying an additional 1,799 shares during the last quarter. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Company Profile

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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