Pitney Bowes (NYSE:PBI) Hits New 52-Week High – What’s Next?

Pitney Bowes Inc. (NYSE:PBI) hit a new 52-week high during mid-day trading on Wednesday . The stock 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 Upgrades and Downgrades

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

Pitney Bowes Stock Up 4.9 %

The company’s fifty day moving average price is $6.98 and its two-hundred day moving average price is $6.19.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. The company had revenue of $793.17 million for the quarter, compared to analyst estimates of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 0.35 EPS for the current year.

Pitney Bowes Dividend Announcement

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

Institutional Trading of Pitney Bowes

A number of hedge funds have recently bought and sold shares of PBI. Bank of New York Mellon Corp raised its holdings in shares of Pitney Bowes by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock worth $10,754,000 after purchasing an additional 21,811 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Pitney Bowes by 2,894.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock valued at $8,760,000 after purchasing an additional 1,187,531 shares during the period. Marshall Wace LLP lifted its holdings in Pitney Bowes by 248.1% in the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after buying an additional 503,378 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Pitney Bowes by 3.8% in the second quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock worth $2,639,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Pitney Bowes by 2.1% in the second quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock valued at $2,581,000 after purchasing an additional 10,646 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

About Pitney Bowes

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.