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Pitney Bowes Inc . (NYSE:PBI) stock has reached a notable milestone, hitting a 52-week high of $9.55, with the current price at $9.72. The company, now valued at $1.78 billion, has caught analysts’ attention with a price target of $15. This peak reflects a significant turnaround for the company, which has seen its stock value surge by an impressive 113.53% over the past year. Investors have responded positively to the company’s strategic initiatives and operational improvements, including its 54-year track record of maintaining dividend payments. The ascent to a 52-week high is a clear indicator of the market’s renewed confidence in Pitney Bowes’ potential for sustained growth and profitability, with InvestingPro analysts expecting net income growth this year. Discover 10+ additional exclusive insights available on InvestingPro.
In other recent news, Pitney Bowes Inc. reported a strong fourth quarter with earnings and revenue that outpaced analyst expectations. The company reported adjusted earnings per share of $0.32, exceeding the analyst consensus of $0.21, and revenue of $516 million, surpassing estimates of $489.77 million. For the full year 2024, the firm generated revenue of $2.027 billion and an adjusted EPS of $0.82, marking a 34% improvement from the previous year.
In addition, Pitney Bowes provided an optimistic outlook for 2025, with projected revenue between $1.95 billion and $2 billion, and an adjusted EPS of $1.10 to $1.30, both above analyst expectations. These recent developments also include a new $150 million share repurchase authorization and an increased quarterly dividend to $0.06 per share.
The company reported progress on strategic initiatives, including the near-completion of its Global Ecommerce exit and $120 million in annualized cost savings by the end of 2024. Pitney Bowes now aims to achieve total net annualized cost savings of $170 million to $190 million.
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