Pitney Bowes, Inc. (NYSE: PBI) stock jumped 1.53% on Monday to $3.98 against a previous-day closing price of $3.92. With 0.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.55 million shares. During the session, the Integrated Freight & Logistics company that operates in wider Industrials sector, reached to the highest price of $4.0100 whereas the lowest price it dropped to was $3.8700. The 52-week range on PBI shows that it touched its highest point at $4.85 and its lowest point at $2.80 during that stretch. It currently has a 1-year price target of $6.00. With its current market cap of 701.79 million, PBI has annualized dividend of $0.20 while the current yield stands at 5.03%. Beta for the stock currently stands at 2.24.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PBI was up-trending over the past week, with a rise of 1.53%, but this was up by 17.06% over a month. Three-month performance surged to 14.04% while six-month performance rose 23.60%. The stock gained 11.48% in the past year, while it has gained 4.74% so far this year. A look at the trailing 12-month EPS for PBI yields -0.89 with Next year EPS estimates of 0.12. For the next quarter, that number is 0.02. This implies an EPS growth rate of -103.33% for this year and 2500.00% for next year. EPS is expected to grow by 6.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -31.58%.
Float and Shares Shorts:
At present, 174.03 million PBI shares are outstanding with a float of 153.72 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.81 million, which was 5.00% higher than short shares on Sep 28, 2023. In addition to Mr. Jason C. Dies as the firm’s Interim Chief Executive Officer, Ms. Ana Maria Chadwick serves as its Executive VP & CFO.
Institutional Ownership:
Through their ownership of 73.80% of PBI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.10% of PBI, in contrast to 27.36% held by mutual funds. Shares owned by individuals account for 11.71%. As the largest shareholder in PBI with 10.31% of the stake, The Vanguard Group, Inc. holds 18,142,288 shares worth 18,142,288. A second-largest stockholder of PBI, BlackRock Fund Advisors, holds 15,886,861 shares, controlling over 9.03% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PBI, holding 6,159,424 shares or 3.50% stake. With a 4.49% stake in PBI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 7,894,604 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.70% of PBI stock, is the second-largest Mutual Fund holder. It holds 4,751,486 shares valued at 15.35 million. Vanguard Small Cap Index Fund holds 2.44% of the stake in PBI, owning 4,297,655 shares worth 13.88 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PBI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PBI analysts setting a high price target of $6.00 and a low target of $6.00, the average target price over the next 12 months is $6.00. Based on these targets, PBI could surge 50.75% to reach the target high and rise by 50.75% to reach the target low. Reaching the average price target will result in a growth of 50.75% from current levels.
Summary of Insider Activity:
Insiders traded PBI stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 1,977 shares were bought while 1,977 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 337,236 while 94,440 shares were sold.
