Pitney Bowes Shares Soar 1.07% to 52-Week High on Earnings Beat

Pitney Bowes Inc. (PBI) shares rose to their highest level since January 2021 today, with an intraday gain of 1.07%.

The strategy of buying PBI shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -4.5%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a profitable strategy for PBI.

Pitney Bowes Inc. has recently reached a new 52-week high, with its share price trading as high as $11.26. This indicates a positive trend in the stock's performance.

The company reported earnings results on May 7th, beating analysts’ consensus estimates by $0.05 with an earnings per share (EPS) of $0.33 for the quarter. However, revenue was slightly below expectations at $493.42 million, and the revenue declined by 5.3% compared to the previous year.

There has been significant activity among institutional investors, with firms like Envestnet Portfolio Solutions Inc., Principal Financial Group Inc., and Bank of America Corp DE increasing their stakes in Pitney Bowes. This suggests confidence in the company's future potential.

Pitney Bowes recently increased its quarterly dividend to $0.07 per share, indicating a commitment to returning value to shareholders.