Pitney Bowes Inc. (NYSE:PBI – Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Thursday, May 23rd will be given a dividend of 0.05 per share by the technology company on Friday, June 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Wednesday, May 22nd.
Pitney Bowes has a payout ratio of 153.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Pitney Bowes to earn $0.25 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 80.0%.
Pitney Bowes Stock Up 0.4 %
Shares of PBI traded up $0.02 on Friday, hitting $5.27. The company’s stock had a trading volume of 3,466,738 shares, compared to its average volume of 1,493,755. Pitney Bowes has a fifty-two week low of $2.80 and a fifty-two week high of $5.51. The firm’s fifty day moving average price is $4.15 and its 200-day moving average price is $4.06. The firm has a market capitalization of $936.32 million, a price-to-earnings ratio of -2.40, a P/E/G ratio of 28.07 and a beta of 2.14.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Monday, February 5th.
Read Our Latest Analysis on PBI
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.
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