Pitney Bowes (NYSE:PBI) Stock Passes Above 200 Day Moving Average of $4.02

Pitney Bowes Inc. (NYSE:PBI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.02 and traded as high as $4.13. Pitney Bowes shares last traded at $4.03, with a volume of 1,384,916 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a report on Monday, February 5th.

Pitney Bowes Stock Performance

The firm has a market capitalization of $708.90 million, a PE ratio of -1.82, a P/E/G ratio of 26.87 and a beta of 2.16. The firm has a fifty day moving average of $4.09 and a 200 day moving average of $4.02.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. The firm had revenue of $871.58 million during the quarter, compared to analyst estimates of $849.85 million. During the same quarter last year, the firm earned $0.06 EPS. Pitney Bowes’s quarterly revenue was down 4.1% on a year-over-year basis. Research analysts forecast that Pitney Bowes Inc. will post 0.01 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 5.01%. Pitney Bowes’s dividend payout ratio is currently -9.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in Pitney Bowes during the 4th quarter valued at approximately $240,000. Goldman Sachs Group Inc. boosted its position in Pitney Bowes by 11.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,812,984 shares of the technology company’s stock valued at $12,377,000 after purchasing an additional 281,958 shares during the period. Legal & General Group Plc raised its stake in Pitney Bowes by 4.5% during the 4th quarter. Legal & General Group Plc now owns 451,003 shares of the technology company’s stock valued at $1,984,000 after acquiring an additional 19,294 shares in the last quarter. Barclays PLC raised its stake in Pitney Bowes by 79.2% during the 4th quarter. Barclays PLC now owns 278,427 shares of the technology company’s stock valued at $1,226,000 after acquiring an additional 123,031 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Pitney Bowes by 22.2% during the 4th quarter. Voya Investment Management LLC now owns 150,855 shares of the technology company’s stock valued at $664,000 after acquiring an additional 27,369 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

About Pitney Bowes

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.