Unisys (UIS) Trading Up 14.7% Following Earnings Beat
Unisys Co. (NYSE:UIS) shares were up 14.7% during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $15.16 and last traded at $14.46. Approximately 3,103,500 shares were traded during mid-day trading, an increase of 462% from the average daily volume of 552,420 shares. The stock had previously closed at $12.61.
The information technology services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.31. The firm had revenue of $760.90 million during the quarter, compared to analysts’ expectations of $752.00 million. Unisys had a net margin of 3.62% and a negative return on equity of 15.39%. Unisys’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 EPS.
Several analysts have commented on UIS shares. ValuEngine raised shares of Unisys from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Loop Capital set a $13.00 target price on shares of Unisys and gave the stock a “hold” rating in a research note on Wednesday, December 12th. Finally, Zacks Investment Research raised shares of Unisys from a “sell” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Friday, January 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $14.33.
The firm has a market cap of $643.43 million, a price-to-earnings ratio of 5.98 and a beta of 1.45.
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Unisys Company Profile (NYSE:UIS)
Unisys Corporation provides information technology services worldwide. It operates in two segments, Services and Technology. The Services segment provides cloud and infrastructure services, application services, and business process outsourcing services. The Technology segment designs and develops software, hardware, and other related products.
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