Pitney Bowes (NYSE:PBI) Reaches New 1-Year High at $6.11

Pitney Bowes Inc. (NYSE:PBI) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.11 and last traded at $5.99, with a volume of 614068 shares. The stock had previously closed at $5.95.

Wall Street Analysts Forecast Growth

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

Pitney Bowes Trading Up 1.3 %

The company has a fifty day moving average price of $5.03 and a 200-day moving average price of $4.45.

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

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Wednesday, May 22nd. Pitney Bowes’s dividend payout ratio is currently -9.22%.

Hedge Funds Weigh In On Pitney Bowes

Large investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new position in shares of Pitney Bowes during the 4th quarter valued at approximately $30,000. William Howard & Co Financial Advisors Inc bought a new position in Pitney Bowes in the 1st quarter valued at $52,000. Envestnet Portfolio Solutions Inc. bought a new position in Pitney Bowes in the 4th quarter valued at $55,000. SageView Advisory Group LLC bought a new position in Pitney Bowes in the 1st quarter valued at $57,000. Finally, First Citizens Bank & Trust Co. grew its position 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 valued at $70,000 after acquiring an additional 2,753 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

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.