by Sam Collins | November 11, 2013 1:27 am
Pitney Bowes (PBI) — This company, which was once known solely for its postage machines, now provides hardware, software and services to integrate physical and digital communication channels. For example, it recently helped turn one of North Florida’s largest commercial print and mail operations into a “White Paper Factory,” which no longer uses pre-printed forms and envelopes, saving the company $1 million a year.
Recently, the company announced the completion of the sale of its management services business for $400 million. It said it will use the proceeds to pay down debt.
PBI was one of my Top 6 Stocks to Buy for October, when it was trading near $18. On Oct. 29, the company reported Q3 earnings that were $0.09 higher than the Zacks consensus estimate, and the stock jumped to a new high over $22.
Buy PBI on a pullback to its breakout point at $19.50 with a trading objective of $25. The stock has a yield of 3.5%.
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