Pitney Bowes (PBI) Reaches New 12-Month Low at $6.88
Pitney Bowes Inc. (NYSE:PBI) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.88 and last traded at $7.01, with a volume of 92398 shares changing hands. The stock had previously closed at $7.10.
Several brokerages have recently weighed in on PBI. Zacks Investment Research downgraded Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Maxim Group began coverage on Pitney Bowes in a research report on Thursday, May 31st. They issued a “buy” rating and a $12.00 target price for the company. Finally, ValuEngine raised Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd.
The company has a debt-to-equity ratio of 16.56, a current ratio of 1.23 and a quick ratio of 1.20. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 5.50 and a beta of 1.00.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 11th. Stockholders of record on Friday, August 24th were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 10.49%. The ex-dividend date of this dividend was Thursday, August 23rd. Pitney Bowes’s payout ratio is 53.19%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Koch Industries Inc. purchased a new stake in shares of Pitney Bowes in the first quarter worth about $412,000. New Jersey Better Educational Savings Trust acquired a new position in shares of Pitney Bowes in the second quarter worth about $171,000. Rothschild Investment Corp IL lifted its stake in shares of Pitney Bowes by 26.0% in the second quarter. Rothschild Investment Corp IL now owns 45,379 shares of the technology company’s stock worth $389,000 after acquiring an additional 9,350 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Pitney Bowes in the second quarter worth about $420,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Pitney Bowes by 243.9% in the first quarter. BNP Paribas Arbitrage SA now owns 559,545 shares of the technology company’s stock worth $6,093,000 after acquiring an additional 396,862 shares in the last quarter. 72.18% of the stock is owned by institutional investors.
About Pitney Bowes (NYSE:PBI)
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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