FY2024 EPS Estimates for Pitney Bowes Boosted by Sidoti Csr

Pitney Bowes Inc. (NYSE:PBI - Free Report) - Analysts at Sidoti Csr boosted their FY2024 earnings estimates for shares of Pitney Bowes in a report issued on Friday, November 8th. Sidoti Csr analyst A. Lebiedzinski now expects that the technology company will earn $0.38 per share for the year, up from their previous estimate of $0.35. 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 $0.14 EPS, Q1 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.23 EPS, FY2025 earnings at $1.05 EPS, Q1 2026 earnings at $0.28 EPS, Q2 2026 earnings at $0.27 EPS, Q3 2026 earnings at $0.36 EPS and FY2026 earnings at $1.16 EPS.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. The firm had revenue of $793.17 million during the quarter, compared to analysts' expectations of $771.65 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 13.85%. Pitney Bowes's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS.

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

Pitney Bowes Stock Up 5.4 %

NYSE:PBI traded up $0.41 during trading hours on Monday, reaching $7.99. 3,975,010 shares of the company's stock were exchanged, compared to its average volume of 1,758,658. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.62, a P/E/G ratio of 1.44 and a beta of 1.97. The company has a 50-day moving average of $7.03 and a 200 day moving average of $6.26. Pitney Bowes has a 1-year low of $3.68 and a 1-year high of $8.80.

Pitney Bowes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes's dividend payout ratio (DPR) is presently -9.17%.

Institutional Trading of Pitney Bowes

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Pitney Bowes by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company's stock worth $10,754,000 after acquiring an additional 21,811 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Pitney Bowes by 2,894.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company's stock worth $8,760,000 after acquiring an additional 1,187,531 shares during the period. Marshall Wace LLP lifted its stake in shares of Pitney Bowes by 248.1% in the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company's stock worth $3,588,000 after acquiring an additional 503,378 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Pitney Bowes by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company's stock worth $2,639,000 after acquiring an additional 19,000 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Pitney Bowes by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company's stock worth $2,581,000 after acquiring an additional 10,646 shares during the period. Institutional investors and hedge funds 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.