Q3 2024 Earnings Estimate for Pitney Bowes Inc. Issued By Sidoti Csr (NYSE:PBI)

Pitney Bowes Inc. (NYSE:PBI) – Research analysts at Sidoti Csr cut their Q3 2024 earnings per share (EPS) estimates for shares of Pitney Bowes in a report released on Friday, May 3rd. Sidoti Csr analyst A. Lebiedzinski now forecasts that the technology company will earn $0.01 per share for the quarter, down from their previous estimate of $0.02. The consensus estimate for Pitney Bowes’ current full-year earnings is $0.01 per share. Sidoti Csr also issued estimates for Pitney Bowes’ Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.08 EPS and Q4 2025 earnings at $0.14 EPS.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, May 2nd. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $831.00 million for the quarter, compared to analysts’ expectations of $797.00 million. During the same quarter last year, the company earned ($0.01) EPS. The firm’s revenue was down .4% compared to the same quarter last year.

Separately, StockNews.com raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research note on Friday.

Pitney Bowes Stock Performance

Shares of PBI stock opened at $5.27 on Monday. The stock has a 50 day moving average price of $4.18 and a two-hundred day moving average price of $4.08. Pitney Bowes has a fifty-two week low of $2.80 and a fifty-two week high of $5.51. The company has a market capitalization of $936.32 million, a P/E ratio of -2.43, a PEG ratio of 35.13 and a beta of 2.14.

Institutional Investors Weigh In On Pitney Bowes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new stake in Pitney Bowes in the fourth quarter worth about $30,000. Syon Capital LLC purchased a new position in shares of Pitney Bowes in the third quarter worth $32,000. CenterBook Partners LP bought a new position in Pitney Bowes during the 3rd quarter valued at about $33,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Pitney Bowes in the fourth quarter worth approximately $55,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Pitney Bowes by 50.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock valued at $56,000 after acquiring an additional 6,279 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.20 annualized dividend and a yield of 3.80%. Pitney Bowes’s payout ratio is -9.22%.

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.