Pitney Bowes Inc. (PBI) Shares Gap Up to $18.56
Pitney Bowes Inc. (NYSE:PBI) gapped up before the market opened on Friday . The stock had previously closed at $18.53, but opened at $18.56. Pitney Bowes shares last traded at $18.74, with a volume of 1,114,404 shares.
A number of equities research analysts have recently issued reports on PBI shares. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Brean Capital restated 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.
The firm has a market cap of $3.48 billion and a price-to-earnings ratio of 12.74. The firm’s 50 day moving average price is $18.61 and its 200-day moving average price is $19.04.
Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $836 million for the quarter, compared to analyst estimates of $852.46 million. During the same period in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts expect that Pitney Bowes Inc. will post $1.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 22nd will be paid a dividend of $0.1875 per share. The ex-dividend date is Thursday, August 18th. This represents a $0.75 annualized dividend and a yield of 4.00%.
A hedge fund recently raised its stake in Pitney Bowes stock. Bank of Montreal Can raised its stake in Pitney Bowes Inc. (NYSE:PBI) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,298 shares of the company’s stock after buying an additional 386 shares during the period. Bank of Montreal Can’s holdings in Pitney Bowes were worth $1,019,000 as of its most recent SEC filing.
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.
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