Pitney Bowes (NYSE:PBI) Posts Earnings Results, Hits Expectations

Pitney Bowes (NYSE:PBI) released its quarterly earnings data on Tuesday. The technology company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47, Zacks reports. Pitney Bowes had a net margin of 7.65% and a negative return on equity of 36.91%. Pitney Bowes’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS.

Pitney Bowes Price Performance

PBI stock traded up $0.28 during midday trading on Tuesday, hitting $15.54. 2,496,022 shares of the stock traded hands, compared to its average volume of 3,607,533. The firm has a market cap of $2.23 billion, a P/E ratio of 18.72, a PEG ratio of 0.98 and a beta of 1.64. Pitney Bowes has a 1-year low of $8.81 and a 1-year high of $15.95. The stock’s fifty day simple moving average is $11.74 and its 200-day simple moving average is $10.81.

Pitney Bowes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, February 27th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, February 27th. Pitney Bowes’s dividend payout ratio (DPR) is currently 43.37%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, CEO Kurt James Wolf sold 160,289 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $11.06, for a total transaction of $1,772,796.34. Following the transaction, the chief executive officer directly owned 543,211 shares of the company’s stock, valued at $6,007,913.66. This trade represents a 22.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brent D. Rosenthal acquired 4,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $10.22 per share, for a total transaction of $40,880.00. Following the completion of the acquisition, the director owned 9,000 shares of the company’s stock, valued at approximately $91,980. This represents a 80.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 503,108 shares of company stock worth $5,355,063. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Pitney Bowes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBI. EverSource Wealth Advisors LLC lifted its holdings in Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,015 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Pitney Bowes by 404.6% in the fourth quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock worth $43,000 after buying an additional 3,225 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Pitney Bowes in the second quarter worth about $51,000. Parkside Financial Bank & Trust lifted its stake in shares of Pitney Bowes by 4,164.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 6,823 shares of the technology company’s stock worth $72,000 after buying an additional 6,663 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Pitney Bowes in the first quarter worth about $96,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PBI has been the topic of a number of research reports. Bank of America started coverage on shares of Pitney Bowes in a research note on Tuesday, February 17th. They issued an “underperform” rating and a $9.00 price objective on the stock. Wall Street Zen upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Citizens Jmp raised their price target on shares of Pitney Bowes from $13.00 to $14.00 and gave the company a “market outperform” rating in a research report on Friday, April 17th. The Goldman Sachs Group restated a “neutral” rating and set a $13.70 price target on shares of Pitney Bowes in a research report on Friday, April 24th. Finally, Citigroup restated an “outperform” rating on shares of Pitney Bowes in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.93.

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.