Pitney Bowes (NYSE:PBI) Upgraded at StockNews.com

StockNews.com upgraded shares of Pitney Bowes (NYSE:PBI) from a hold rating to a buy rating in a report released on Friday morning.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $5.24 on Friday. The firm’s fifty day simple moving average is $4.18 and its 200-day simple moving average is $4.08. Pitney Bowes has a 1-year low of $2.80 and a 1-year high of $5.51.

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

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.82%. Pitney Bowes’s payout ratio is -9.22%.

Institutional Investors Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Management Corp VA raised its holdings in shares of Pitney Bowes by 2.3% during the third quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock worth $13,709,000 after acquiring an additional 104,190 shares during the period. Clifford Capital Partners LLC boosted its holdings in shares of Pitney Bowes by 27.0% during the 3rd quarter. Clifford Capital Partners LLC now owns 4,428,463 shares of the technology company’s stock worth $13,374,000 after buying an additional 940,595 shares during the period. Invesco Ltd. boosted its holdings in shares of Pitney Bowes by 13.3% during the 3rd quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company’s stock worth $8,251,000 after buying an additional 321,438 shares during the period. Assenagon Asset Management S.A. raised its stake in Pitney Bowes by 164.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company’s stock worth $7,651,000 after purchasing an additional 1,082,506 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Pitney Bowes by 58.2% in the 4th quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock worth $4,145,000 after purchasing an additional 349,599 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

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.