Shares of Pitney Bowes Inc. (NYSE:PBI) saw unusually-high trading volume on Friday . Approximately 9,404,384 shares were traded during trading, an increase of 169% from the previous session’s volume of 3,493,494 shares.The stock last traded at $6.85 and had previously closed at $6.84.
PBI has been the topic of a number of recent research reports. Maxim Group set a $12.00 price objective on shares of Pitney Bowes and gave the company a “buy” rating in a research note on Thursday, December 13th. Northcoast Research downgraded shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 6th. Finally, Zacks Investment Research reiterated a “sell” rating on shares of Pitney Bowes in a research note on Monday, December 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $11.00.
The company has a debt-to-equity ratio of 12.82, a quick ratio of 1.23 and a current ratio of 1.25. The company has a market cap of $1.29 billion, a PE ratio of 5.91 and a beta of 1.47.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.38 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.38. The firm had revenue of $947.10 million for the quarter, compared to the consensus estimate of $932.48 million. Pitney Bowes had a net margin of 6.17% and a return on equity of 100.78%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. As a group, equities analysts expect that Pitney Bowes Inc. will post 1.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 15th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $0.20 annualized dividend and a yield of 2.92%. Pitney Bowes’s dividend payout ratio (DPR) is 17.24%.
Pitney Bowes announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 5th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Pitney Bowes by 28.9% in the fourth quarter. Geode Capital Management LLC now owns 2,530,553 shares of the technology company’s stock valued at $14,955,000 after acquiring an additional 566,632 shares in the last quarter. Norges Bank acquired a new stake in Pitney Bowes in the fourth quarter valued at approximately $13,178,000. Financial Advocates Investment Management boosted its stake in Pitney Bowes by 49,813.7% in the fourth quarter. Financial Advocates Investment Management now owns 25,456 shares of the technology company’s stock valued at $2,145,000 after acquiring an additional 25,405 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Pitney Bowes by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,900,055 shares of the technology company’s stock valued at $17,140,000 after acquiring an additional 118,348 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in Pitney Bowes in the fourth quarter valued at approximately $72,000. Institutional investors own 69.60% of the company’s stock.
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Pitney Bowes Company Profile (NYSE:PBI)
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
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