Unisys Corp. (UIS) Lifted to “Buy” at Zacks Investment Research
Unisys Corp. (NYSE:UIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 10.00% from the stock’s previous close.
According to Zacks, “Unisys reported striking second-quarter 2016 results, with earnings beating the Zacks Consensus Estimate by over 200%. Earnings estimates have remained steady over the last week. Unisys is aligning its services and solution portfolio by shifting its offerings to cloud-based and software-as-a-service delivery models. The company is focusing on business opportunities in fewer, more profitable sectors in the IT marketplace. Unisys also intends to build specialized industry skills and resources required to win industry-specific projects for higher growth prospects. The company expects restructuring efforts to generate approximately $200 million in annualized savings by the end of 2016. However, uncertainty in currency markets might have an adverse impact on revenues if there is any unfavorable movement in the currency market, particularly in euro. Continued pension obligations are likely to be an additional drag on its earnings in the future.”
Separately, SunTrust Banks Inc. assumed coverage on shares of Unisys Corp. in a research note on Tuesday, June 21st. They issued a “buy” rating and a $11.00 target price for the company.
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Shares of Unisys Corp. (NYSE:UIS) traded up 1.00% during trading on Tuesday, hitting $10.10. The stock had a trading volume of 226,594 shares. The stock’s 50-day moving average price is $9.72 and its 200 day moving average price is $8.58. Unisys Corp. has a one year low of $6.72 and a one year high of $14.96. The stock’s market cap is $505.82 million.
Unisys Corp. (NYSE:UIS) last released its earnings results on Tuesday, July 26th. The company reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $1.42. Unisys Corp. had a negative net margin of 0.91% and a negative return on equity of 12.92%. The business earned $748.90 million during the quarter, compared to analysts’ expectations of $683.83 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts forecast that Unisys Corp. will post ($0.56) EPS for the current year.
In related news, Director Nathaniel A. Davis sold 38,200 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $10.43, for a total value of $398,426.00. Following the completion of the transaction, the director now owns 3,654 shares of the company’s stock, valued at $38,111.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp raised its position in Unisys Corp. by 9.7% in the second quarter. Stifel Financial Corp now owns 13,789 shares of the company’s stock valued at $101,000 after buying an additional 1,214 shares during the period. Stevens Capital Management LP acquired a new position in Unisys Corp. during the second quarter valued at about $103,000. BNP Paribas Arbitrage SA raised its position in Unisys Corp. by 113.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,472 shares of the company’s stock valued at $105,000 after buying an additional 7,704 shares during the period. Acrospire Investment Management LLC acquired a new position in Unisys Corp. during the second quarter valued at about $107,000. Finally, Jane Street Group LLC acquired a new position in Unisys Corp. during the second quarter valued at about $110,000.
Unisys Corp. Company Profile
Unisys Corporation is an information technology (IT) company. The Company operates through two segments. Its Services segment includes cloud and infrastructure services, application services and business process outsourcing services. In cloud and infrastructure services, it helps clients apply cloud and as-a-service delivery models to manage and secure their IT infrastructure and operations.
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