PBI - Pitney Bowes: Radical Change Needed As We Approach Q1 Earnings Results
2024-05-01 03:14:30 ET
Summary
- Pitney Bowes' stock has remained flat since our last analysis in February 2023.
- The company's 50-week moving average has started to turn up, indicating potential change.
- To unlock capital, Pitney Bowes could consider selling its Global E-commerce business and suspending the dividend.
Intro
We last wrote about Pitney Bowes Inc. ( PBI ) in February of 2023 when we rated the freight & logistics company a 'Hold'. In hindsight (as confirmed by PBI's technicals below), the 'Hold' rating was the right call as shares are basically 'flat' since our commentary over fourteen months ago. Overhead resistance (50-week moving average) continues to rule the day in Pitney Bowes & until this key resistance area gets breached to the upside, we have no interest in getting long this underlying....
Pitney Bowes: Radical Change Needed As We Approach Q1 Earnings Results