Pitney Bowes (NYSE:PBI) Shares Gap Up to $3.92

Pitney Bowes Inc. (NYSE:PBI) gapped up prior to trading on Tuesday . The stock had previously closed at $3.92, but opened at $4.05. Pitney Bowes shares last traded at $4.24, with a volume of 350,474 shares.

Wall Street Analyst Weigh In

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

Pitney Bowes Price Performance

The company’s fifty day moving average is $4.08 and its 200-day moving average is $3.98. The stock has a market cap of $726.42 million, a PE ratio of -1.88, a PEG ratio of 26.13 and a beta of 2.15.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. Pitney Bowes had a negative net margin of 11.81% and a negative return on equity of 4.75%. The firm had revenue of $871.58 million during the quarter, compared to analysts’ expectations of $849.85 million. During the same quarter last year, the company posted $0.06 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. Analysts expect that Pitney Bowes Inc. will post 0.01 EPS for the current year.

Pitney Bowes Dividend Announcement

The company also recently declared 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 was Thursday, February 8th. This represents a $0.20 annualized dividend and a yield of 4.86%. Pitney Bowes’s dividend payout ratio is presently -9.13%.

Institutional Trading of Pitney Bowes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBI. Goldman Sachs Group Inc. grew its position in Pitney Bowes by 40.0% during the second quarter. Goldman Sachs Group Inc. now owns 5,986,689 shares of the technology company’s stock valued at $21,672,000 after buying an additional 1,711,020 shares during the period. Assenagon Asset Management S.A. grew its position in Pitney Bowes by 164.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company’s stock valued at $7,651,000 after buying an additional 1,082,506 shares during the period. Clifford Capital Partners LLC grew its position in Pitney Bowes by 27.0% during the third quarter. Clifford Capital Partners LLC now owns 4,428,463 shares of the technology company’s stock valued at $13,374,000 after buying an additional 940,595 shares during the period. Renaissance Technologies LLC grew its position in Pitney Bowes by 90.3% during the first quarter. Renaissance Technologies LLC now owns 1,769,600 shares of the technology company’s stock valued at $9,202,000 after buying an additional 839,836 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Pitney Bowes by 39.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,632,242 shares of the technology company’s stock valued at $10,238,000 after buying an additional 738,936 shares during the period. Institutional investors and hedge funds 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.