Pitney Bowes (NYSE:PBI) Stock Passes Above Two Hundred Day Moving Average of $4.40

Pitney Bowes Inc. (NYSE:PBI) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.40 and traded as high as $5.08. Pitney Bowes shares last traded at $4.88, with a volume of 1,455,536 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd.

Pitney Bowes Trading Down 1.4 %

The stock has a market capitalization of $872.93 million, a PE ratio of -2.25, a price-to-earnings-growth ratio of 16.20 and a beta of 2.02. The firm has a 50 day moving average price of $4.86 and a 200 day moving average price of $4.40.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $831.00 million for the quarter, compared to the consensus estimate of $797.00 million. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. On average, equities research analysts expect that Pitney Bowes Inc. will post 0.02 EPS for the current year.

Pitney Bowes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were given a $0.05 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.10%. Pitney Bowes’s payout ratio is currently -9.22%.

Institutional Investors Weigh In On Pitney Bowes

A number of institutional investors have recently bought and sold shares of PBI. ProShare Advisors LLC lifted its position in shares of Pitney Bowes by 7.5% in the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after acquiring an additional 2,440 shares in the last quarter. Equitable Trust Co. lifted its holdings in Pitney Bowes by 2.1% in the 4th quarter. Equitable Trust Co. now owns 125,365 shares of the technology company’s stock worth $552,000 after purchasing an additional 2,541 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in Pitney Bowes by 20.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock worth $70,000 after purchasing an additional 2,753 shares during the period. Barclays PLC boosted its stake in Pitney Bowes by 2.8% in the 3rd quarter. Barclays PLC now owns 155,396 shares of the technology company’s stock worth $469,000 after purchasing an additional 4,293 shares during the period. Finally, Camelot Portfolios LLC grew its holdings in Pitney Bowes by 33.3% during the 4th quarter. Camelot Portfolios LLC now owns 20,000 shares of the technology company’s stock valued at $88,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors 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.