The stock is trading at $14.13 which is slightly above the 50 day moving average which is $13.49 and a tad under the 200 day moving average of $14.18. The 50 day moving average went up by +4.75% and the 200 day average moved down $-0.05. Trading was heavy with 1,621K shares changing hands in the last trading session. Overall, volume was up 11.85% over the stocks normal daily volume.
Traders are a little more bullish of late as indicated by the downtick in short interest. The firm had a fall in short interest between September 15, 2017 and September 29, 2017 of -8.86%. Short shares decreased from 4,582,994 to 4,177,155 over that timeframe. Days to cover decreased from 3.0 to 3.0 and the short interest percentage is 0.02% as of September 29.
The following firms have recently changed their position in PBI. Clark Estates Inc/ny expanded its stake by buying 18,300 shares an increase of 9.5% in the quarter. Clark Estates Inc/ny currently owns 210,300 shares valued at $2,946,000. The total value of its holdings increased 1.6%. As of the end of the quarter Shell Asset Management CO had disposed of a total of 1,700 shares trimming its position 2.4%. The value of the company’s investment in Pitney Bowes Inc. decreased from $1,069,000 to $968,000 decreasing 9.4% for the reporting period.
As of quarter end State Treasurer State Of Michigan had sold 6,700 shares trimming its holdings by 8.7%. The value of the investment in PBI went from $1,161,000 to $984,000 a change of 15.2% since the last quarter. As of quarter end Robeco Institutional Asset Management B.v. had acquired a total of 461,740 shares growing its stake by 113.5%. The value in dollars increased from $6,142,000 to $12,166,000 a change of $6,024,000 quarter to quarter.
On July 28 analysts at Loop Capital initiated coverage with a rating of “Hold”.
The company is down since yesterday’s close of 14.23. Pitney Bowes Inc. recently declared a dividend for shareholders which was paid on Tuesday September 12th, 2017. The dividend was $0.188 per share for the quarter which comes to $0.75 on an annualized basis. This dividend represents a yield of $5.43 which is the dividend as a percentage of the current share price. The ex-dividend date was set for Wednesday the 23rd of August 2017.
The P/E ratio is 27.76 and the market cap of the company is 2.64B. As of the last earnings report the EPS was $0.51 and is estimated to be $1.68 for the current year with 186,681,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.57 with next year’s EPS projected to be $1.82.
Pitney Bowes Inc., launched on April 23, 1920, is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe. The Business’s segments include Small & Medium Business Solutions (SMB), Enterprise Business Solutions and Digital Commerce Solutions. The SMB segment includes North America Mailing and International Mailing business. The Enterprise Business Solutions segment includes production mail and presort services business. The Digital Commerce Solutions segment includes software solutions and global e-commerce business. The Company markets its products and services through a direct and inside sales force, direct mailings, telemarketing, independent dealers and distributors and Web channels. The Company sells its products to a range of business, governmental, institutional and other organizations, and in its e-commerce business, the Company sells its products to consumers. The Company has a client care service organization that provides telephone, online and on-site support to diagnose and repair its mailing equipment, production printers and software solutions..