Pitney Bowes (NYSE:PBI) Stock Passes Above 200 Day Moving Average of $4.02

Shares of Pitney Bowes Inc. (NYSE:PBI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.02 and traded as high as $4.13. Pitney Bowes shares last traded at $4.03, with a volume of 1,384,916 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Monday, February 5th.

Pitney Bowes Trading Down 1.0 %

The company has a market capitalization of $708.90 million, a PE ratio of -1.82, a price-to-earnings-growth ratio of 26.87 and a beta of 2.16. The business’s 50-day simple moving average is $4.09 and its 200-day simple moving average is $4.02.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $871.58 million for the quarter, compared to analysts’ expectations of $849.85 million. Pitney Bowes had a negative net margin of 11.81% and a negative return on equity of 4.75%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. Sell-side analysts forecast that Pitney Bowes Inc. will post 0.01 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, February 9th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.01%. Pitney Bowes’s payout ratio is -9.13%.

Institutional Investors Weigh In On Pitney Bowes

A number of hedge funds and other institutional investors have recently made changes to their positions in PBI. Tower Research Capital LLC TRC grew its stake in Pitney Bowes by 341.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,970 shares of the technology company’s stock valued at $27,000 after acquiring an additional 5,392 shares during the period. Baird Financial Group Inc. acquired a new stake in Pitney Bowes in the 3rd quarter valued at $28,000. National Bank of Canada FI acquired a new stake in Pitney Bowes in the 4th quarter valued at $30,000. Syon Capital LLC acquired a new stake in Pitney Bowes in the 3rd quarter valued at $32,000. Finally, CenterBook Partners LP acquired a new stake in Pitney Bowes in the 3rd quarter valued at $33,000. Institutional investors and hedge funds 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.