Unisys (UIS) Surges 14.1%: Is This an Indication of Further Gains?
Unisys UIS shares rallied 14.1% in the last trading session to close at $6.65. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9% gain over the past four weeks.
Unisys is benefiting from strong adoption of Digital Workplace Solutions and Cloud, Applications & Infrastructure Solutions.
This information technology service provider is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of -70.5%. Revenues are expected to be $535 million, down 4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Unisys, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on UIS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Unisys belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, ASGN Inc ASGN, closed the last trading session 1.2% lower at $90.95. Over the past month, ASGN has returned 1%.
ASGN Inc's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.37. Compared to the company's year-ago EPS, this represents a change of -9.3%. ASGN Inc currently boasts a Zacks Rank of #3 (Hold).
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