NEW YORK (TheStreet) -- Shares of Unisys (UIS) - Get Report were surging 19.27% to $10.68 on heavy trading volume late Wednesday morning after the company reported better-than-anticipated results for the 2016 third quarter.
After yesterday's closing bell, the Blue Bell, PA-based IT company posted a loss of 56 cents per diluted share on revenue of $683.3 million.
Analysts surveyed by FactSet had expected a loss of 60 cents per share on revenue of $664.0 million.
Adjusted earnings of 41 cents per share topped analysts' estimates of 29 cents per share, according to FactSet.
"We continue to execute on the strategy we began in 2015, and we are beginning to see traction with our vertical go-to-market approach, in addition to bringing a pervasive security focus to all of our offerings," CEO Peter Altabef said in a statement.
More than 1.87 million of the company's shares changed hands so far today vs. its average 30-day volume of 519,402 shares.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of E+ on the stock.
The company's weaknesses can be seen in multiple areas, such as its poor profit margins and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: UIS