Pitney Bowes (NYSE:PBI) Shares Gap Up to $5.08

Pitney Bowes Inc. (NYSE:PBI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $5.08, but opened at $5.23. Pitney Bowes shares last traded at $5.34, with a volume of 465,673 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd.

Pitney Bowes Stock Performance

The business has a 50-day moving average price of $5.07 and a two-hundred day moving average price of $4.47.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $831.00 million for the quarter, compared to analyst estimates of $797.00 million. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, research analysts forecast that Pitney Bowes Inc. will post 0.02 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Thursday, May 23rd were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.19%. The ex-dividend date was Wednesday, May 22nd. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

Hedge Funds Weigh In On Pitney Bowes

Several large investors have recently bought and sold shares of the business. ProShare Advisors LLC increased its holdings in Pitney Bowes by 7.5% in the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after buying an additional 2,440 shares during the last quarter. Equitable Trust Co. grew its holdings in shares of Pitney Bowes by 2.1% during the fourth quarter. Equitable Trust Co. now owns 125,365 shares of the technology company’s stock worth $552,000 after purchasing an additional 2,541 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Pitney Bowes by 20.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock worth $70,000 after purchasing an additional 2,753 shares during the last quarter. Camelot Portfolios LLC grew its holdings in shares of Pitney Bowes by 33.3% during the fourth quarter. Camelot Portfolios LLC now owns 20,000 shares of the technology company’s stock worth $88,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Contrarian Capital Management L.L.C. grew its holdings in shares of Pitney Bowes by 2.1% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Company Profile

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.