Pitney Bowes Sees Unusually Large Options Volume (PBI)
Pitney Bowes Inc. (NYSE:PBI) saw some unusual options trading activity on Monday. Traders bought 15,371 put options on the company. This is an increase of Infinity compared to the typical daily volume of 0 put options.
Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pitney Bowes by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after buying an additional 748 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Pitney Bowes in the second quarter valued at $108,000. ETRADE Capital Management LLC bought a new position in shares of Pitney Bowes in the third quarter valued at $168,000. IFP Advisors Inc lifted its stake in shares of Pitney Bowes by 74.4% in the second quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock valued at $170,000 after buying an additional 4,793 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of Pitney Bowes by 23.0% in the second quarter. D.A. Davidson & CO. now owns 12,300 shares of the technology company’s stock valued at $185,000 after purchasing an additional 2,300 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
Pitney Bowes (PBI) opened at $10.37 on Friday. The stock has a market cap of $1,920.00, a price-to-earnings ratio of 6.97 and a beta of 1.24. Pitney Bowes has a 12 month low of $10.22 and a 12 month high of $16.60. The company has a debt-to-equity ratio of 35.49, a quick ratio of 1.37 and a current ratio of 1.42.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The business had revenue of $842.82 million during the quarter, compared to the consensus estimate of $837.60 million. During the same period last year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. analysts predict that Pitney Bowes will post 1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.23%. Pitney Bowes’s dividend payout ratio (DPR) is 159.57%.
A number of research firms have recently commented on PBI. Zacks Investment Research lowered shares of Pitney Bowes from a “hold” rating to a “strong sell” rating in a research note on Monday, November 6th. Loop Capital reduced their price objective on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, November 2nd. BidaskClub lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Sidoti raised shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Pitney Bowes presently has a consensus rating of “Hold” and a consensus price target of $14.50.
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About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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