Pitney Bowes (PBI) Sees Large Volume Increase
Pitney Bowes Inc. (NYSE:PBI) shares saw unusually-strong trading volume on Thursday . Approximately 9,746,075 shares traded hands during mid-day trading, an increase of 290% from the previous session’s volume of 2,496,922 shares.The stock last traded at $13.36 and had previously closed at $11.63.
Several equities research analysts have recently commented on PBI shares. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Loop Capital lowered their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.50.
The company has a debt-to-equity ratio of 35.49, a current ratio of 1.42 and a quick ratio of 1.37. The firm has a market capitalization of $2,490.00, a P/E ratio of 28.43 and a beta of 1.11.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The company had revenue of $842.82 million for the quarter, compared to analyst estimates of $837.60 million. During the same period last year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. equities research analysts predict that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st were paid a dividend of $0.1875 per share. The ex-dividend date was Monday, November 20th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.61%. Pitney Bowes’s dividend payout ratio (DPR) is presently 159.57%.
Several institutional investors have recently made changes to their positions in PBI. Sirios Capital Management L P acquired a new stake in shares of Pitney Bowes during the third quarter worth $45,044,000. Miller Howard Investments Inc. NY grew its stake in shares of Pitney Bowes by 32.9% during the third quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock worth $71,351,000 after purchasing an additional 1,259,978 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Pitney Bowes by 93.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock worth $31,863,000 after purchasing an additional 1,019,942 shares during the period. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Pitney Bowes by 340.9% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 1,134,726 shares of the technology company’s stock worth $17,133,000 after purchasing an additional 877,342 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Pitney Bowes during the third quarter worth $11,208,000. 73.74% of the stock is owned by institutional investors and hedge funds.
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About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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