Unisys (UIS) Trading Down 5.3% After Earnings Miss

Unisys Co. (NYSE:UIS) shares were down 5.3% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $15.46 and last traded at $17.50. Approximately 4,288,180 shares were traded during trading, an increase of 399% from the average daily volume of 858,514 shares. The stock had previously closed at $18.48.

The information technology services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $688.30 million during the quarter, compared to analysts’ expectations of $669.60 million. Unisys had a net margin of 1.95% and a negative return on equity of 13.59%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS.

Several equities analysts have recently weighed in on UIS shares. SunTrust Banks restated a “buy” rating and issued a $16.00 target price on shares of Unisys in a research report on Wednesday, August 1st. ValuEngine upgraded Unisys from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Finally, Zacks Investment Research upgraded Unisys from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Thursday, August 2nd. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $15.33.

A number of institutional investors have recently made changes to their positions in UIS. Millennium Management LLC lifted its position in Unisys by 216.8% during the first quarter. Millennium Management LLC now owns 830,903 shares of the information technology services provider’s stock worth $8,932,000 after buying an additional 568,584 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Unisys during the second quarter worth approximately $195,000. Bank of Montreal Can purchased a new position in Unisys during the second quarter worth approximately $2,327,000. Whittier Trust Co. lifted its position in Unisys by 1,283.0% during the second quarter. Whittier Trust Co. now owns 41,490 shares of the information technology services provider’s stock worth $1,026,000 after buying an additional 38,490 shares in the last quarter. Finally, Creative Planning purchased a new position in Unisys during the second quarter worth approximately $140,000.

The stock has a market capitalization of $951.91 million, a P/E ratio of 7.23 and a beta of 1.48.

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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.

See Also: Diversification

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