Wipro Limited (NYSE:WIT) – Stock analysts at Wedbush cut their FY2019 EPS estimates for Wipro in a report released on Wednesday, January 9th. Wedbush analyst M. Katri now anticipates that the information technology services provider will earn $0.27 per share for the year, down from their previous estimate of $0.28.
Wipro (NYSE:WIT) last issued its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). Wipro had a return on equity of 15.63% and a net margin of 13.84%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.14 billion.
Several other brokerages also recently weighed in on WIT. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Deutsche Bank assumed coverage on shares of Wipro in a report on Thursday. They issued a “hold” rating on the stock. TheStreet downgraded shares of Wipro from a “b-” rating to a “c” rating in a report on Wednesday, October 24th. Finally, ValuEngine raised shares of Wipro from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.00.
Shares of NYSE:WIT opened at $5.12 on Thursday. Wipro has a twelve month low of $4.50 and a twelve month high of $5.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.49 and a current ratio of 2.51. The company has a market capitalization of $23.10 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 2.70 and a beta of 0.40.
Several hedge funds and other institutional investors have recently modified their holdings of WIT. BlackRock Inc. grew its stake in shares of Wipro by 9.0% during the 2nd quarter. BlackRock Inc. now owns 22,038,581 shares of the information technology services provider’s stock worth $105,564,000 after purchasing an additional 1,812,203 shares during the period. ClariVest Asset Management LLC grew its stake in shares of Wipro by 64.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 1,408,800 shares of the information technology services provider’s stock worth $7,340,000 after purchasing an additional 550,900 shares during the period. SG Americas Securities LLC grew its stake in shares of Wipro by 376.1% during the 3rd quarter. SG Americas Securities LLC now owns 645,567 shares of the information technology services provider’s stock worth $3,363,000 after purchasing an additional 509,964 shares during the period. Nordea Investment Management AB acquired a new stake in shares of Wipro during the 3rd quarter worth approximately $2,373,000. Finally, Aperio Group LLC grew its stake in shares of Wipro by 14.6% during the 3rd quarter. Aperio Group LLC now owns 3,268,912 shares of the information technology services provider’s stock worth $17,031,000 after purchasing an additional 417,681 shares during the period. 2.25% of the stock is currently owned by institutional investors and hedge funds.
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
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