Pitney Bowes (NYSE:PBI) Hits New 1-Year High – Still a Buy?

Pitney Bowes Inc. (NYSE:PBI) shares reached a new 52-week high on Wednesday . The company traded as high as $7.95 and last traded at $7.88, with a volume of 90627 shares trading hands. The stock had previously closed at $7.50.

Analyst Ratings Changes

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st.

Pitney Bowes Stock Up 4.9 %

The firm’s fifty day moving average price is $6.98 and its 200-day moving average price is $6.19.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.10. The company had revenue of $793.17 million for the quarter, compared to analysts’ expectations of $771.65 million. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. On average, analysts anticipate that Pitney Bowes Inc. will post 0.35 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.20 annualized dividend and a yield of 2.54%. Pitney Bowes’s dividend payout ratio (DPR) is -13.33%.

Hedge Funds Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Pitney Bowes in the second quarter valued at approximately $48,000. William Howard & Co Financial Advisors Inc bought a new position in shares of Pitney Bowes in the 1st quarter valued at approximately $52,000. SageView Advisory Group LLC acquired a new stake in Pitney Bowes in the 1st quarter worth approximately $57,000. Point72 DIFC Ltd boosted its position in Pitney Bowes by 218.0% during the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after purchasing an additional 7,819 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Pitney Bowes by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after buying an additional 2,054 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.