Unisys Corp. (UIS) Stock Rating Lowered by Zacks Investment Research
Unisys Corp. (NYSE:UIS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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 shares of Unisys Corp. in a research report on Tuesday, June 21st. They issued a “buy” rating and a $11.00 price target on the stock.
Unisys Corp. (NYSE:UIS) opened at 9.54 on Tuesday. Unisys Corp. has a one year low of $6.72 and a one year high of $14.96. The company has a 50 day moving average of $9.92 and a 200-day moving average of $8.38. The firm’s market cap is $477.77 million.
Unisys Corp. (NYSE:UIS) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 had revenue of $748.90 million for the quarter, compared to analysts’ expectations of $683.83 million. During the same period in the previous year, the business earned $0.33 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts predict that Unisys Corp. will post ($0.56) earnings per share for the current year.
In related news, Director Nathaniel A. Davis sold 38,200 shares of Unisys Corp. stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $10.43, for a total value of $398,426.00. Following the transaction, the director now owns 3,654 shares of the company’s stock, valued at approximately $38,111.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Diligent Investors LLC boosted its position in shares of Unisys Corp. by 5.5% in the second quarter. Diligent Investors LLC now owns 19,733 shares of the company’s stock worth $144,000 after buying an additional 1,033 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Unisys Corp. by 9.7% in the second quarter. Stifel Financial Corp now owns 13,789 shares of the company’s stock worth $101,000 after buying an additional 1,214 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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. Pinnacle Holdings LLC boosted its position in shares of Unisys Corp. by 7.4% in the second quarter. Pinnacle Holdings LLC now owns 51,470 shares of the company’s stock worth $375,000 after buying an additional 3,545 shares in the last quarter. Finally, State Street Corp boosted its position in shares of 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.
About Unisys Corp.
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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