Pitney Bowes Inc. (PBI) Sees Unusually-High Trading Volume
Pitney Bowes Inc. (NYSE:PBI) shares saw unusually-high trading volume on Friday . Approximately 3,934,740 shares changed hands during mid-day trading, an increase of 174% from the previous session’s volume of 1,437,715 shares.The stock last traded at $19.31 and had previously closed at $19.17.
PBI has been the topic of a number of research reports. Brean Capital reiterated a “buy” rating and issued a $24.00 price target (down previously from $25.00) on shares of Pitney Bowes in a research note on Wednesday, May 4th. Zacks Investment Research upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Friday, July 1st.
The firm has a market cap of $3.64 billion and a PE ratio of 9.95. The stock has a 50-day moving average price of $18.18 and a 200 day moving average price of $19.02.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.06. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company had revenue of $845 million for the quarter, compared to the consensus estimate of $870.62 million. Pitney Bowes’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts expect that Pitney Bowes Inc. will post $1.78 earnings per share for the current year.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in Pitney Bowes by 0.8% in the fourth quarter. Bank of Montreal Can now owns 49,298 shares of the company’s stock worth $1,019,000 after buying an additional 386 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Pitney Bowes by 4.2% in the fourth quarter. ProShare Advisors LLC now owns 67,415 shares of the company’s stock valued at $1,392,000 after buying an additional 2,733 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Pitney Bowes by 12.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 67,798 shares of the company’s stock valued at $1,422,000 after buying an additional 7,743 shares in the last quarter. BlackRock Advisors LLC raised its stake in shares of Pitney Bowes by 1.6% in the fourth quarter. BlackRock Advisors LLC now owns 519,585 shares of the company’s stock valued at $10,729,000 after buying an additional 8,092 shares in the last quarter. Finally, Russell Frank Co raised its stake in shares of Pitney Bowes by 9.1% in the fourth quarter. Russell Frank Co now owns 111,532 shares of the company’s stock valued at $2,322,000 after buying an additional 9,281 shares in the last quarter.
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence, and customer engagement products and solutions to help clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.