24/7 Market News Snapshot 11 February, 2025 – Pitney Bowes Inc. (NYSE:PBI)
DENVER, Colo., 11 February, 2025 (247marketnews.com) – (NYSE:PBI) are discussed in this article.
Pitney Bowes Inc. is currently experiencing notable trading activity, opening at $9.25 and trading around $9.225, marking an approximate increase of 4.59% in its stock price. The surge, notable for a trading volume of 4.39 million shares, reflects strong investor interest and suggests bullish momentum following a previous session close of $8.82. Market analysts are closely observing potential resistance around the $9.50 mark, while support levels are estimated near the recent closing price. As the financial landscape evolves, investors are advised to monitor PBI’s performance for emerging trading opportunities.
In tandem with its market performance, Pitney Bowes has recently announced its financial results for the fourth quarter and full year ending December 31, 2024. The company reported a 3% year-over-year decline in total revenue, amounting to $2.027 billion, but showcased resilience through proactive measures that led to an adjusted earnings per share (EPS) of $0.82, reflecting an impressive 34% increase from the previous year.
Demonstrating a commitment to operational efficiency, Pitney Bowes has achieved approximately $30 million in annualized cost savings in the fourth quarter, exceeding its initial savings target with projections now ranging between $170 million and $190 million by 2025. Furthermore, as part of its strategic transitions, the company is nearing the completion of its Ecommerce exit, adjusting its one-time costs from $150 million to about $165 million, aimed at enhancing long-term earnings potential.
In a move that underscores its focus on shareholder value, Pitney Bowes has authorized a new $150 million share repurchase program and increased its quarterly dividend to $0.06 per share. The company remains dedicated to optimizing its balance sheet and cash flow, unveiling over $200 million in potential assets.
CEO Lance Rosenzweig highlighted this transformative phase for the company, paving the way for increased shareholder returns and solidifying Pitney Bowes’ position for sustained profitability and operational strength as it enters 2025, supported by key leadership changes, including the appointment of Robert Gold as CFO. The company is well-positioned to navigate the competitive landscape of technology-driven shipping and mailing solutions.