Pitney Bowes (NYSE:PBI) Hits New 1-Year High - Should You Buy?

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $12.55 and last traded at $12.09, with a volume of 6336748 shares traded. The stock had previously closed at $11.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Sidoti raised Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th.

Pitney Bowes Stock Up 2.0%

The business's 50-day simple moving average is $10.46 and its two-hundred day simple moving average is $9.37. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -13.19, a P/E/G ratio of 0.62 and a beta of 1.60.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $493.42 million during the quarter, compared to the consensus estimate of $498.99 million. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. The company's revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were given a $0.07 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's dividend payout ratio is -30.77%.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the company's stock in a transaction dated 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 in the company, valued at $1,401,016.70. This represents a 23.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in Pitney Bowes in the 1st quarter valued at about $36,000. Meeder Asset Management Inc. acquired a new position in shares of Pitney Bowes during the 4th quarter worth approximately $31,000. KBC Group NV acquired a new position in shares of Pitney Bowes during the 1st quarter worth approximately $65,000. United Services Automobile Association acquired a new position in shares of Pitney Bowes during the 1st quarter worth approximately $96,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Pitney Bowes during the 1st quarter worth approximately $98,000. Institutional investors and hedge funds 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.