Sidoti Csr Brokers Raise Earnings Estimates for Pitney Bowes

Pitney Bowes Inc. (NYSE:PBI) – Equities research analysts at Sidoti Csr lifted their FY2024 earnings per share (EPS) estimates for Pitney Bowes in a report released on Friday, January 24th. Sidoti Csr analyst A. Lebiedzinski now forecasts that the technology company will earn $0.40 per share for the year, up from their prior forecast of $0.38. The consensus estimate for Pitney Bowes’ current full-year earnings is $0.38 per share. Sidoti Csr also issued estimates for Pitney Bowes’ Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $1.12 EPS, Q2 2026 earnings at $0.28 EPS, Q4 2026 earnings at $0.28 EPS and FY2026 earnings at $1.23 EPS.

Pitney Bowes Price Performance

Shares of PBI opened at $8.50 on Monday. Pitney Bowes has a 1 year low of $3.68 and a 1 year high of $8.80. The stock has a 50 day simple moving average of $7.58 and a two-hundred day simple moving average of $7.18. The firm has a market cap of $1.54 billion, a P/E ratio of -3.90, a P/E/G ratio of 0.45 and a beta of 2.00.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The firm had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%.

Hedge Funds Weigh In On Pitney Bowes

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Citizens Bank & Trust Co. increased its stake in shares of Pitney Bowes by 10.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock valued at $150,000 after buying an additional 2,020 shares during the period. Westside Investment Management Inc. boosted its holdings in Pitney Bowes by 0.5% in the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock valued at $4,532,000 after acquiring an additional 3,100 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Pitney Bowes by 47.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock valued at $13,139,000 after purchasing an additional 586,249 shares during the period. JPMorgan Chase & Co. raised its holdings in Pitney Bowes by 182.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after purchasing an additional 624,878 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Pitney Bowes by 593.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,633 shares of the technology company’s stock worth $751,000 after purchasing an additional 91,251 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Paul J. Evans bought 29,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the acquisition, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at approximately $151,551.68. The trade was a 69.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.30% of the stock is owned by corporate insiders.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s dividend payout ratio is currently -9.17%.

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.