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Pitney Bowes (PBI) is trading around its yearly low of $17.50. it supports a 10 PE and pays a dividend of over 8%. Despite the company losing some revenue, it is still forecasting 2012/13 earnings to be $2.12 and $2.09. If these estimates are true, then even though the company is a little long in the tooth, it is one of the safer havens for the next few months and the dividend seems to be secure.

Buying at today's price of $17.62 and averaging down if the stock slides with the rest of the market, may be a decent value play over the coming six months. The company is aware of the problems it will be facing as the slowing traditional mailing system makes way for more Internet usage.

In stocks of this nature I have found the best guide to be my gut, and it tells me that it is a buy and not a bye-bye, at this point in time. In a year from now holders will be 8% richer and the stock may be reviewed again. However, if the company issues a profit warning then all bets are off and it will be time to say bye-bye. As with all stock trading -- You place your bets and let the wheel stop where it may.

Source: Pitney Bowes: A Good Buy Or A Bye Bye?