Pitney Bowes (NYSE:PBI) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Pitney Bowes (NYSE:PBI) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.

Pitney Bowes Trading Up 4.5 %

Shares of NYSE PBI opened at $7.23 on Tuesday. Pitney Bowes has a 12 month low of $2.80 and a 12 month high of $7.70. The firm has a market capitalization of $1.29 billion, a PE ratio of -3.33, a price-to-earnings-growth ratio of 4.88 and a beta of 1.99. The firm has a fifty day simple moving average of $5.91 and a two-hundred day simple moving average of $4.92.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.10. Pitney Bowes had a negative net margin of 11.67% and a negative return on equity of 3.09%. The company had revenue of $793.17 million during the quarter, compared to analyst estimates of $771.65 million. During the same period last year, the business earned ($0.02) EPS. Pitney Bowes’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Pitney Bowes will post 0.08 earnings per share for the current year.

Pitney Bowes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, August 22nd. Pitney Bowes’s payout ratio is -9.22%.

Institutional Investors Weigh In On Pitney Bowes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in shares of Pitney Bowes during the second quarter valued at approximately $48,000. William Howard & Co Financial Advisors Inc bought a new stake in shares of Pitney Bowes during the first quarter valued at approximately $52,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $55,000. Finally, SageView Advisory Group LLC bought a new stake in shares of Pitney Bowes during the first quarter valued at approximately $57,000. Institutional investors 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.