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NEW YORK ( TheStreet) -- Pitney Bowes (NYSE: PBI) hit a new 52-week low Thursday as it is currently trading at $12.71, below its previous 52-week low of $12.81 with 1.8 million shares traded as of 11:55 a.m. ET. Average volume has been 4.5 million shares over the past 30 days. Pitney Bowes has a market cap of $2.67 billion and is part of the consumer goods sector and consumer durables industry. Shares are down 28.6% year to date as of the close of trading on Wednesday. Pitney Bowes Inc. provides software, hardware, and services to enable physical and digital communications. It also offers a suite of equipment, supplies, software, services, and solutions for managing and integrating physical and digital communication channels. The company has a P/E ratio of 6.7, above the average consumer durables industry P/E ratio of 3.9 and below the S&P 500 P/E ratio of 17.7.