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. began coverage on Unisys Corp. in a research report on Tuesday, June 21st. They set a buy rating and a $11.00 price objective on the stock.
Unisys Corp. (NYSE:UIS) opened at 9.74 on Tuesday. The stock’s market cap is $487.79 million. The firm’s 50-day moving average price is $9.88 and its 200-day moving average price is $8.41. Unisys Corp. has a 52 week low of $6.72 and a 52 week high of $14.96.
Unisys Corp. (NYSE:UIS) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $1.42. Unisys Corp. had a negative return on equity of 12.92% and a negative net margin of 0.91%. The business had revenue of $748.90 million for the quarter, compared to the consensus estimate of $683.83 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities analysts predict that Unisys Corp. will post ($0.56) earnings per share for the current fiscal year.
In other news, Director Nathaniel A. Davis sold 38,200 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $10.43, for a total transaction of $398,426.00. Following 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 legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bayesian Capital Management LP acquired a new position in Unisys Corp. during the first quarter worth approximately $150,000. Bogle Investment Management L P DE boosted its position in Unisys Corp. by 661.0% in the first quarter. Bogle Investment Management L P DE now owns 882,181 shares of the company’s stock worth $6,792,000 after buying an additional 766,255 shares in the last quarter. Geode Capital Management LLC boosted its position in Unisys Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 313,282 shares of the company’s stock worth $2,412,000 after buying an additional 3,400 shares in the last quarter. Fairpointe Capital LLC boosted its position in Unisys Corp. by 2.3% in the first quarter. Fairpointe Capital LLC now owns 6,711,614 shares of the company’s stock worth $51,679,000 after buying an additional 151,979 shares in the last quarter. Finally, State Street Corp boosted its position in Unisys Corp. by 0.7% in the first quarter. State Street Corp now owns 941,573 shares of the company’s stock worth $7,251,000 after buying an additional 6,391 shares in the last quarter.
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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