FY2024 EPS Estimates for Pitney Bowes Boosted by Sidoti Csr

Pitney Bowes Inc. (NYSE:PBI) – Stock analysts at Sidoti Csr raised their FY2024 EPS estimates for Pitney Bowes in a research report issued on Friday, January 24th. Sidoti Csr analyst A. Lebiedzinski now forecasts that the technology company will post earnings per share of $0.40 for the year, up from their previous estimate of $0.38. The consensus estimate for Pitney Bowes’ current full-year earnings is $0.38 per share. Sidoti Csr also issued estimates for Pitney Bowes’ Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $1.12 EPS, Q2 2026 earnings at $0.28 EPS, Q4 2026 earnings at $0.28 EPS and FY2026 earnings at $1.23 EPS.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $9.26 on Monday. The stock has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $7.18. The stock has a market capitalization of $1.68 billion, a P/E ratio of -4.25, a PEG ratio of 0.45 and a beta of 2.00. Pitney Bowes has a 52 week low of $3.68 and a 52 week high of $9.29.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $499.46 million during the quarter, compared to the consensus estimate of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.16%. Pitney Bowes’s dividend payout ratio is currently -9.17%.

Insider Buying and Selling

In other Pitney Bowes news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the sale, the executive vice president now directly owns 18,664 shares in the company, valued at $151,551.68. This trade represents a 69.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul J. Evans bought 29,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the purchase, the director now owns 29,000 shares of the company’s stock, valued at $226,200. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 14.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its stake in Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after purchasing an additional 586,249 shares in the last quarter. Algert Global LLC increased its holdings in Pitney Bowes by 76.9% in the 3rd quarter. Algert Global LLC now owns 344,829 shares of the technology company’s stock valued at $2,459,000 after buying an additional 149,944 shares during the period. FMR LLC raised its position in shares of Pitney Bowes by 3,308.0% in the 3rd quarter. FMR LLC now owns 320,152 shares of the technology company’s stock valued at $2,283,000 after buying an additional 310,758 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Pitney Bowes by 182.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after acquiring an additional 624,878 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Pitney Bowes during the 3rd quarter worth approximately $3,442,000. 67.88% of the stock is owned by institutional investors.

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.