Pitney Bowes (NYSE:PBI) Reaches New 1-Year High at $5.07

Pitney Bowes Inc. (NYSE:PBI) reached a new 52-week high on Thursday . The company traded as high as $5.07 and last traded at $5.04, with a volume of 1403481 shares. The stock had previously closed at $4.21.

Analyst Upgrades and Downgrades

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

Pitney Bowes Stock Performance

The company has a market capitalization of $932.77 million, a PE ratio of -2.16, a PEG ratio of 28.40 and a beta of 2.14. The company has a 50 day moving average price of $4.12 and a 200 day moving average price of $4.05.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $871.58 million for the quarter, compared to analyst estimates of $849.85 million. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. On average, equities analysts forecast that Pitney Bowes Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI acquired a new stake in Pitney Bowes in the fourth quarter worth $30,000. Syon Capital LLC acquired a new position in shares of Pitney Bowes during the third quarter valued at $32,000. CenterBook Partners LP acquired a new position in shares of Pitney Bowes during the third quarter valued at $33,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Pitney Bowes during the fourth quarter valued at $55,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Pitney Bowes by 50.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock valued at $56,000 after purchasing an additional 6,279 shares during the period. 67.88% of the stock is 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.