Shares of Pitney Bowes Inc. (NYSE:PBI - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $9.10, but opened at $9.67. Pitney Bowes shares last traded at $9.61, with a volume of 793,588 shares.
Analysts Set New Price Targets
A number of equities research analysts have commented on PBI shares. Sidoti raised Pitney Bowes to a "hold" rating in a report on Monday, May 5th. StockNews.com cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th.
View Our Latest Research Report on PBI
Pitney Bowes Stock Performance
The stock's 50-day moving average price is $8.81 and its 200-day moving average price is $8.52. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -8.60, a P/E/G ratio of 0.59 and a beta of 1.47.
Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $493.42 million during the quarter, compared to the consensus estimate of $498.99 million. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. Pitney Bowes's quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted ($0.01) EPS. Analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.
Pitney Bowes Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be given a $0.07 dividend. The ex-dividend date is Monday, May 19th. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 2.91%. Pitney Bowes's payout ratio is currently -30.77%.
Insider Activity at Pitney Bowes
In other news, EVP James Arthur Fairweather sold 130,000 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total value of $1,407,900.00. Following the completion of the transaction, the executive vice president now directly owns 176,145 shares of the company's stock, valued at $1,907,650.35. The trade was a 42.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kurt James Wolf sold 481,199 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the sale, the director now directly owns 584,636 shares in the company, valued at $6,296,529.72. This represents a 45.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 613,244 shares of company stock valued at $6,607,591. Insiders own 9.00% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC grew its holdings in Pitney Bowes by 15.5% in the first quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company's stock valued at $1,768,000 after purchasing an additional 26,260 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 buying an additional 72,437 shares during the period. United Services Automobile Association purchased a new stake in shares of Pitney Bowes during the 1st quarter valued at $96,000. Aristeia Capital L.L.C. acquired a new stake in shares of Pitney Bowes during the 1st quarter worth $341,000. Finally, Caxton Associates LLP purchased a new position in shares of Pitney Bowes in the 1st quarter worth $1,697,000. Institutional investors and hedge funds own 67.88% of the company's stock.
Pitney Bowes Company Profile
(
Get Free Report)
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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