Unisys Corporation (NYSE:UIS) stock has reached a remarkable 52-week high, touching $8.12, as investors rally behind the company's strong performance. This peak represents a significant milestone for Unisys, reflecting a nearly doubled value with a 1-year change of 99.02%. The impressive surge in stock price underscores the market's confidence in Unisys's strategic direction and operational execution over the past year. Investors are closely monitoring the company's progress, as this 52-week high could signal continued growth and potentially more record-setting highs in the future.
In other recent news, Unisys Corporation reported a 7% increase in its third-quarter revenue, totaling $497 million. This growth is largely attributed to its License and Support (L&S) revenue, which saw a significant surge of 57% year-over-year. These recent developments also include the company raising its full-year non-GAAP operating margin guidance and improving its free cash flow outlook, thanks to strong performance in new business signings and progress in its AI projects.
The Total (EPA:TTEF) Contract Value (TCV) for new business grew by 50%, bolstered by new clients and robust signings across key sectors. Unisys also reported a sequential project pipeline increase of 9% and initiated over 120 active AI projects. Despite a GAAP net loss, the firm expects full-year Ex-L&S revenue growth at the lower end of 1.5% to 5%.
Unisys maintains its 2024 financial guidance, with total revenue growth projected to be between negative 1.5% and positive 1.5% in constant currency. The company's non-GAAP operating profit margin has been revised upward to between 6.5% and 8.5%. The firm also anticipates around $20 million in restructuring charges in the fourth quarter, while the full-year free cash flow expectation has been increased from $10 million to approximately $30 million.
InvestingPro Insights
Unisys Corporation's recent stock performance aligns with several key insights from InvestingPro. The company's stock has shown remarkable strength, with InvestingPro data revealing a 129.6% price total return over the past year, surpassing the 99.02% mentioned in the article. This impressive gain is further supported by strong returns across various timeframes, including a 36.58% increase in the past month and a substantial 128.29% surge over the last three months.
InvestingPro Tips highlight that Unisys is trading near its 52-week high, currently at 98.4% of that peak, which corroborates the article's focus on the stock reaching new heights. Additionally, the tip indicating a "significant return over the last week" (15.63%) suggests that the momentum behind UIS's stock price continues to build.
While the company's growth trajectory is evident, it's worth noting that Unisys was not profitable over the last twelve months, with a negative operating income margin of -12.41%. However, InvestingPro Tips indicate that analysts predict the company will be profitable this year, potentially signaling a turnaround that could further fuel investor optimism.
For readers interested in a deeper analysis, InvestingPro offers 11 additional tips for Unisys Corporation, providing a more comprehensive view of the company's financial health and market position.
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