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

Pitney Bowes Inc. (NYSE:PBI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

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

Pitney Bowes Trading Up 2.5 %

The stock has a market cap of $716.01 million, a price-to-earnings ratio of -1.84, a price-to-earnings-growth ratio of 26.60 and a beta of 2.15. The stock has a fifty day simple moving average of $4.09 and a 200-day simple moving average of $4.02.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.07 EPS for the quarter, topping 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 company had revenue of $871.58 million during the quarter, compared to the consensus estimate of $849.85 million. During the same quarter last year, the company earned $0.06 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Pitney Bowes Inc. 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 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 of this dividend was Thursday, February 8th. This represents a $0.20 annualized dividend and a dividend yield of 4.96%. Pitney Bowes’s dividend payout ratio (DPR) is presently -6.85%.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new position in Pitney Bowes in the 4th quarter valued at $240,000. Goldman Sachs Group Inc. increased its holdings in Pitney Bowes by 11.1% in the fourth 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 last quarter. Legal & General Group Plc increased its holdings in Pitney Bowes by 4.5% in the fourth quarter. Legal & General Group Plc now owns 451,003 shares of the technology company’s stock valued at $1,984,000 after purchasing an additional 19,294 shares during the last quarter. Barclays PLC increased its holdings in Pitney Bowes by 79.2% in the fourth quarter. Barclays PLC now owns 278,427 shares of the technology company’s stock valued at $1,226,000 after purchasing an additional 123,031 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in Pitney Bowes by 22.2% in the fourth quarter. Voya Investment Management LLC now owns 150,855 shares of the technology company’s stock valued at $664,000 after purchasing an additional 27,369 shares during the last quarter. 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.