Pitney Bowes (NYSE:PBI) Shares Up 5.4%

Pitney Bowes Inc. (NYSE:PBI)’s stock price shot up 5.4% during mid-day trading on Monday . The stock traded as high as $6.64 and last traded at $6.63. 339,521 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,746,101 shares. The stock had previously closed at $6.29.

Analyst Ratings Changes

Separately, StockNews.com raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Pitney Bowes Stock Performance

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.33, a price-to-earnings-growth ratio of 4.88 and a beta of 1.99. The company has a 50-day moving average price of $5.91 and a 200-day moving average price of $4.92.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. Pitney Bowes had a negative net margin of 11.67% and a negative return on equity of 3.09%. The firm had revenue of $793.17 million during the quarter, compared to analysts’ expectations of $771.65 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pitney Bowes Inc. will post 0.08 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 22nd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, August 22nd. Pitney Bowes’s dividend payout ratio is currently -9.22%.

Institutional Investors Weigh In On Pitney Bowes

A number of hedge funds have recently modified their holdings of the business. National Bank of Canada FI bought a new stake in Pitney Bowes during the 4th quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Pitney Bowes during the second quarter worth $48,000. William Howard & Co Financial Advisors Inc bought a new stake in Pitney Bowes in the 1st quarter valued at $52,000. Envestnet Portfolio Solutions Inc. acquired a new position in Pitney Bowes in the 4th quarter worth $55,000. Finally, SageView Advisory Group LLC bought a new position in Pitney Bowes during the 1st quarter worth about $57,000. Institutional investors and hedge funds 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.