Unisys (NYSE:UIS) Announces Quarterly Earnings Results

Key Points

• Unisys missed earnings expectations: The company reported a quarterly loss of $0.08 per share, worse than the $0.03 loss analysts expected, while revenue of $473.5 million exceeded the $448.9 million consensus estimate.
• Shares rose 1.4% to $3.48 following the results, although Unisys remains unprofitable, with a negative net margin of 17.7% and negative return on equity of 23.51%.
• Analyst sentiment remains mixed: The stock has a consensus “Hold” rating and a $6.33 target price, while insiders have sold shares recently and institutional investors own 86.87% of the company.

Unisys (NYSE:UIS - Get Free Report) issued its quarterly earnings data on Wednesday. The information technology services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05), FiscalAI reports. Unisys had a negative net margin of 17.70% and a negative return on equity of 23.51%. The business had revenue of $473.50 million for the quarter, compared to the consensus estimate of $448.92 million.

Unisys Trading Up 1.4%

Unisys stock traded up $0.05 during mid-day trading on Wednesday, reaching $3.48. The company had a trading volume of 918,917 shares, compared to its average volume of 889,435. Unisys has a fifty-two week low of $1.97 and a fifty-two week high of $4.98. The company has a market cap of $253.56 million, a P/E ratio of -0.72, a P/E/G ratio of 0.30 and a beta of 1.87. The business has a fifty day simple moving average of $3.70 and a 200 day simple moving average of $2.94.

Insiders Place Their Bets

In other news, Director Philippe Germond sold 20,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $4.15, for a total transaction of $83,000.00. Following the transaction, the director owned 236,453 shares in the company, valued at approximately $981,279.95. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 43,846 shares of company stock worth $156,102. Company insiders own 11.56% of the company's stock.

Hedge Funds Weigh In On Unisys

Hedge funds and other institutional investors have recently modified their holdings of the business. IES Holdings Inc. bought a new stake in shares of Unisys during the 4th quarter valued at about $3,235,000. Millennium Management LLC boosted its position in Unisys by 170.6% during the third quarter. Millennium Management LLC now owns 1,726,339 shares of the information technology services provider's stock valued at $6,733,000 after buying an additional 1,088,380 shares during the period. Saba Capital Management L.P. boosted its holdings in Unisys by 65.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,551,487 shares of the information technology services provider's stock valued at $4,282,000 after acquiring an additional 615,632 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Unisys by 36.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,744,864 shares of the information technology services provider's stock worth $4,816,000 after buying an additional 468,340 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Unisys by 29.1% during the fourth quarter. Federated Hermes Inc. now owns 1,494,555 shares of the information technology services provider's stock valued at $4,125,000 after acquiring an additional 336,711 shares during the last quarter. Hedge funds and other institutional investors own 86.87% of the company's stock.

Analysts Set New Price Targets

UIS has been the subject of several research reports. Zacks Research cut Unisys from a "strong-buy" rating to a "hold" rating in a research report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Unisys in a report on Friday, July 17th. Wall Street Zen cut shares of Unisys from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Needham & Company LLC lifted their price objective on shares of Unisys from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.33.

Unisys Company Profile

Unisys Corporation NYSE: UIS is a global information technology company that delivers a broad portfolio of digital workplace, cloud and infrastructure, application and security services. Formed in 1986 through the merger of Burroughs Corporation and Sperry Corporation, Unisys combines decades of experience in IT modernization with a focus on secure, data-driven transformations for government and enterprise organizations.

The company operates two core business segments: Services and Technology.

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