Pitney Bowes Inc. Expected to Post Q3 2024 Earnings of $0.01 Per Share (NYSE:PBI)

Pitney Bowes Inc. (NYSE:PBI) – Investment analysts at Sidoti Csr dropped their Q3 2024 earnings per share estimates for Pitney Bowes in a report released on Friday, May 3rd. Sidoti Csr analyst A. Lebiedzinski now expects that the technology company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.02. The consensus estimate for Pitney Bowes’ current full-year earnings is $0.01 per share. Sidoti Csr also issued estimates for Pitney Bowes’ Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.08 EPS and Q4 2025 earnings at $0.14 EPS.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The business had revenue of $831.00 million during the quarter, compared to analyst estimates of $797.00 million. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.

Separately, StockNews.com upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Friday, May 3rd.

Pitney Bowes Trading Down 1.1 %

Shares of NYSE PBI opened at $5.23 on Monday. Pitney Bowes has a twelve month low of $2.80 and a twelve month high of $5.51. The firm has a 50-day moving average of $4.24 and a two-hundred day moving average of $4.10. The company has a market capitalization of $935.54 million, a price-to-earnings ratio of -2.41, a PEG ratio of 35.13 and a beta of 2.14.

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently modified their holdings of PBI. Equitable Trust Co. boosted its position in shares of Pitney Bowes by 2.1% in the 4th quarter. Equitable Trust Co. now owns 125,365 shares of the technology company’s stock valued at $552,000 after purchasing an additional 2,541 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of Pitney Bowes by 20.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock worth $70,000 after acquiring an additional 2,753 shares in the last quarter. Barclays PLC raised its holdings in shares of Pitney Bowes by 2.8% during the third quarter. Barclays PLC now owns 155,396 shares of the technology company’s stock valued at $469,000 after acquiring an additional 4,293 shares during the period. Camelot Portfolios LLC raised its holdings in shares of Pitney Bowes by 33.3% during the fourth quarter. Camelot Portfolios LLC now owns 20,000 shares of the technology company’s stock valued at $88,000 after acquiring an additional 5,000 shares during the period. Finally, Contrarian Capital Management L.L.C. boosted its stake in Pitney Bowes by 2.1% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 5,000 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.82%. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

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.