Pitney Bowes (NYSE:PBI) Posts Earnings Results, Beats Estimates By $0.10 EPS

Pitney Bowes (NYSE:PBIGet Free Report) posted its quarterly earnings data on Thursday. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10, RTT News reports. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The firm had revenue of $793.17 million for the quarter, compared to analysts’ expectations of $771.65 million. During the same quarter last year, the business earned ($0.02) EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year.

Pitney Bowes Trading Up 10.7 %

Shares of PBI traded up $0.61 during midday trading on Friday, reaching $6.29. The stock had a trading volume of 8,719,634 shares, compared to its average volume of 2,142,746. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.90, a price-to-earnings-growth ratio of 4.88 and a beta of 1.99. The company’s 50-day moving average is $5.88 and its 200 day moving average is $4.90. Pitney Bowes has a 12-month low of $2.80 and a 12-month high of $7.70.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, August 22nd. Pitney Bowes’s payout ratio is -9.22%.

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently modified their holdings of the company. Cutter & CO Brokerage Inc. boosted its stake in Pitney Bowes by 6.7% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock worth $162,000 after purchasing an additional 2,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Pitney Bowes by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock worth $398,000 after buying an additional 2,300 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Pitney Bowes by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after purchasing an additional 2,440 shares during the last quarter. Finally, Contrarian Capital Management L.L.C. grew its holdings in Pitney Bowes by 2.1% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock valued at $1,078,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analyst Ratings Changes

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

Read Our Latest Stock Report on Pitney Bowes

Pitney Bowes Company Profile

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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.

See Also

Earnings History for Pitney Bowes (NYSE:PBI)

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