Pitney Bowes (NYSE:PBI) Shares Gap Up - Time to Buy?

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $8.05, but opened at $8.78. Pitney Bowes shares last traded at $8.21, with a volume of 538,283 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 21st.

Pitney Bowes Stock Performance

The stock's 50-day simple moving average is $7.02 and its 200 day simple moving average is $6.21.

Pitney Bowes (NYSE:PBI - Get Free Report) last released 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 8.05% and a negative return on equity of 5.31%. The company had revenue of $793.17 million for the quarter, compared to analysts' expectations of $771.65 million. During the same period last year, the company earned ($0.02) EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 0.35 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $0.05 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.64%. Pitney Bowes's dividend payout ratio (DPR) is presently -13.33%.

Hedge Funds Weigh In On Pitney Bowes

Several institutional investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in Pitney Bowes during the second quarter valued at about $48,000. William Howard & Co Financial Advisors Inc acquired a new stake in shares of Pitney Bowes in the first quarter valued at $52,000. SageView Advisory Group LLC acquired a new stake in Pitney Bowes in the first quarter worth about $57,000. Point72 DIFC Ltd grew its position in shares of Pitney Bowes by 218.0% during the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company's stock worth $58,000 after buying an additional 7,819 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Pitney Bowes by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company's stock worth $77,000 after buying an additional 2,054 shares during the period. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Company Profile

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.