Pitney Bowes (NYSE:PBI) Hits New 12-Month High at $6.11

Pitney Bowes Inc. (NYSE:PBI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.11 and last traded at $5.99, with a volume of 614068 shares trading hands. The stock had previously closed at $5.95.

Wall Street Analysts Forecast Growth

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 firm has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $4.48.

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

Pitney Bowes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.20 annualized dividend and a dividend yield of 3.19%. Pitney Bowes’s payout ratio is -9.22%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI bought a new position in Pitney Bowes in the 4th quarter worth about $30,000. William Howard & Co Financial Advisors Inc bought a new position in Pitney Bowes in the 1st quarter worth about $52,000. Envestnet Portfolio Solutions Inc. bought a new position in Pitney Bowes in the 4th quarter worth about $55,000. SageView Advisory Group LLC bought a new position in Pitney Bowes in the 1st quarter worth about $57,000. Finally, First Citizens Bank & Trust Co. boosted its stake in Pitney Bowes by 20.8% in the 4th 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 period. Institutional investors 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.