Pitney Bowes (NYSE:PBI) Shares Cross Above 200 Day Moving Average of $5.48

Pitney Bowes Inc. (NYSE:PBI) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.48 and traded as high as $7.23. Pitney Bowes shares last traded at $7.02, with a volume of 1,578,247 shares traded.

Analyst Ratings Changes

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

Pitney Bowes Stock Up 1.5 %

The stock has a market cap of $1.26 billion, a P/E ratio of -3.23, a price-to-earnings-growth ratio of 1.27 and a beta of 1.98. The firm’s 50-day moving average is $6.76 and its two-hundred day moving average is $5.48.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.10. The firm 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 company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) earnings per share. Analysts anticipate that Pitney Bowes Inc. will post 0.35 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.85%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s payout ratio is presently -9.22%.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in Pitney Bowes during the second quarter valued at approximately $48,000. Point72 DIFC Ltd raised its position in shares of Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after purchasing an additional 7,819 shares during the period. William Howard & Co Financial Advisors Inc bought a new position in shares of Pitney Bowes in the first quarter valued at approximately $52,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $55,000. Finally, SageView Advisory Group LLC bought a new position in shares of Pitney Bowes in the first quarter valued at approximately $57,000. 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.