Zacks Investment Research Upgrades Unisys Corporation (UIS) to “Hold”
Zacks Investment Research upgraded shares of Unisys Corporation (NYSE:UIS) from a strong sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “Unisys has significant pension obligations under its U.S. and non-U.S. defined benefit pension plans that are likely to be a drag on its earnings. In addition, Unisys has to continually invest in new technologies to provide a hedge against stiff competition, which increases operating expenses and reduces margins. Foreign currency volatility remains another concern for Unisys due to its significant international presence. The company also underperformed the industry year to date. However, Unisys is concentrating on business opportunities in fewer, more profitable markets in the IT marketplace and is revamping its sales strategy accordingly to improve its margins. The company is rationalizing its services and solution portfolio by shifting its offerings to cloud-based and software-as-a-service delivery models. Unisys is also focusing more to build specialized industry skills and resources required to win industry-specific project opportunities.”
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Unisys Corporation from a sell rating to a strong sell rating in a research note on Friday, August 11th. ValuEngine cut Unisys Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. set a $15.00 price objective on Unisys Corporation and gave the stock a buy rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $15.00.
Unisys Corporation (NYSE:UIS) opened at 8.80 on Tuesday. Unisys Corporation has a 52-week low of $6.90 and a 52-week high of $16.70. The firm’s market cap is $444.13 million. The company has a 50 day moving average price of $8.06 and a 200-day moving average price of $11.06.
Unisys Corporation (NYSE:UIS) last announced its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.34). Unisys Corporation had a negative return on equity of 5.94% and a negative net margin of 3.81%. The company had revenue of $666.20 million for the quarter, compared to analyst estimates of $674.55 million. During the same period last year, the firm earned $0.81 earnings per share. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. Equities research analysts anticipate that Unisys Corporation will post ($1.94) EPS for the current year.
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Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Unisys Corporation by 112.1% during the first quarter. Bank of America Corp DE now owns 566,798 shares of the information technology services provider’s stock worth $7,907,000 after purchasing an additional 299,522 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Unisys Corporation by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 4,881,766 shares of the information technology services provider’s stock worth $62,488,000 after purchasing an additional 128,320 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Unisys Corporation by 20.9% during the first quarter. Tudor Investment Corp ET AL now owns 41,618 shares of the information technology services provider’s stock worth $581,000 after purchasing an additional 7,185 shares during the period. Strs Ohio grew its stake in shares of Unisys Corporation by 9.0% during the second quarter. Strs Ohio now owns 59,600 shares of the information technology services provider’s stock worth $762,000 after purchasing an additional 4,900 shares during the period. Finally, First Quadrant L P CA acquired a new stake in shares of Unisys Corporation during the second quarter worth $271,000.
Unisys Corporation Company Profile
Unisys Corporation (Unisys) is an information technology (IT) company. The Company operates through two segments: Services and Technology. The Company offers services, which include cloud and infrastructure services, application services and business process outsourcing services. In technology segment, the Company designs and develops software, servers and related products.
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