Key Points
- Director Brent Rosenthal bought 2,000 shares on Nov. 25 at $10.00 each ($20,000), raising his stake to 5,000 shares — a 66.7% increase — as disclosed in an SEC filing.
- Pitney Bowes increased its quarterly dividend to $0.09 per share (annualized $0.36, ~3.6% yield) and the board authorized a $400 million share buyback plan covering up to ~18.9% of outstanding shares.
- The company slightly missed recent quarterly EPS ($0.31 vs. $0.32) with revenue down 8% year-over-year; analysts have a consensus "Hold" rating and a $11 price target.
Pitney Bowes Inc. (NYSE:PBI - Get Free Report) Director Brent Rosenthal purchased 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average price of $10.00 per share, with a total value of $20,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $50,000. This trade represents a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Pitney Bowes Trading Up 1.9%
NYSE PBI opened at $9.91 on Wednesday. Pitney Bowes Inc. has a 1 year low of $6.88 and a 1 year high of $13.11. The company has a market cap of $1.59 billion, a PE ratio of 22.01, a PEG ratio of 0.57 and a beta of 1.27. The stock's 50-day moving average price is $10.68 and its two-hundred day moving average price is $10.94.
Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.The firm had revenue of $459.68 million during the quarter, compared to analysts' expectations of $467.45 million. During the same period last year, the business earned $0.21 earnings per share. The business's revenue was down 8.0% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. Research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.
Pitney Bowes Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.09 per share. This is an increase from Pitney Bowes's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.36 annualized dividend and a yield of 3.6%. Pitney Bowes's dividend payout ratio (DPR) is presently 80.00%.
Pitney Bowes announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Pitney Bowes in a report on Wednesday, November 19th. The Goldman Sachs Group assumed coverage on Pitney Bowes in a research report on Monday, November 3rd. They set a "neutral" rating and a $11.00 price objective for the company. Finally, Wall Street Zen downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $11.00.
Get Our Latest Stock Analysis on PBI
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PBI. Quantbot Technologies LP acquired a new stake in Pitney Bowes in the 1st quarter worth approximately $36,000. EverSource Wealth Advisors LLC raised its position in shares of Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock valued at $38,000 after purchasing an additional 1,015 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Pitney Bowes in the second quarter worth $51,000. Canada Pension Plan Investment Board bought a new stake in shares of Pitney Bowes during the 2nd quarter worth $51,000. Finally, United Services Automobile Association acquired a new position in Pitney Bowes in the 1st quarter valued at $96,000. 67.88% of the stock is owned by institutional investors.
Pitney Bowes Company Profile
(
Get Free Report)
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.
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