Pitney Bowes (NYSE:PBI) Shares Down 3.9%

Pitney Bowes Inc. (NYSE:PBI)’s share price fell 3.9% during trading on Wednesday . The company traded as low as $6.09 and last traded at $6.12. Approximately 691,928 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,609,827 shares. The stock had previously closed at $6.37.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd.

Pitney Bowes Stock Performance

The stock has a market capitalization of $1.10 billion, a PE ratio of -2.83, a price-to-earnings-growth ratio of 5.37 and a beta of 1.99. The stock’s 50 day moving average is $5.28 and its two-hundred day moving average is $4.54.

Pitney Bowes (NYSE:PBI) last released its earnings results on Thursday, May 2nd. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The business 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 business posted ($0.01) earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts expect that Pitney Bowes Inc. will post 0.08 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Wednesday, May 22nd. Pitney Bowes’s dividend payout ratio (DPR) is -9.22%.

Hedge Funds Weigh In On Pitney Bowes

A number of institutional investors and hedge funds have recently bought and sold shares of PBI. William Howard & Co Financial Advisors Inc purchased a new stake in Pitney Bowes in the 1st quarter valued at $52,000. Tidal Investments LLC purchased a new position in Pitney Bowes in the 1st quarter valued at approximately $764,000. B. Riley Wealth Advisors Inc. boosted its holdings in Pitney Bowes by 10.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 98,956 shares of the technology company’s stock valued at $428,000 after purchasing an additional 9,222 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Pitney Bowes by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock worth $957,000 after buying an additional 8,305 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Pitney Bowes by 21.6% during the first quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock worth $287,000 after buying an additional 11,753 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.