Archive | 2.33

Time to sell Pitney Bowes

4 May

Pitney Bowes is a recent buy for me as I was lured by their constant yield and low P/E ratio.  I had extra money in my TFSA and I bought this without much thought…

On April 30th, Pitney Bowes took a double digit percentage tumble in the stock market when they announced their earnings report.  Their first quarter net income drop 58% compared to last year’s results.  They also slashed their high yielding dividend in half from 38c to 18c per quarter.  First off, mailing equipment is a dying business as electronic mail is more world wide acceptable in this digital day and age.  I should have known better!!

A day before their announcement, I was thinking of selling out Pitney Bowes at a profit of $100+.  But as always, I didn’t pull the trigger.  Luckily for me, I didn’t sell on the big drop that Tuesday.  Since then, share price has been steadily climbing out of its despair depths and above my buy in price.  It is time for me to sell Pitney Bowes.  I do not want to lose money on this one especially in my Tax Free Savings Account where I can not claim any capital loss.

April 29-May 3, 2013

April 29-May 3, 2013