Equities research analysts expect Wipro Limited (NYSE:WIT) to report $0.07 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Wipro’s earnings. Wipro reported earnings of $0.06 per share during the same quarter last year, which would suggest a positive year over year growth rate of 16.7%. The business is expected to report its next earnings results before the market opens on Friday, January 18th.
On average, analysts expect that Wipro will report full-year earnings of $0.27 per share for the current financial year. For the next financial year, analysts forecast that the firm will post earnings of $0.31 per share, with EPS estimates ranging from $0.29 to $0.33. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Wipro.
Wipro (NYSE:WIT) last announced its quarterly earnings data on Wednesday, October 24th. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.14 billion. Wipro had a return on equity of 15.63% and a net margin of 13.84%.
Several research firms have recently weighed in on WIT. Deutsche Bank began coverage on shares of Wipro in a research note on Thursday. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. TheStreet downgraded shares of Wipro from a “b-” rating to a “c” rating in a research note on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.00.
WIT opened at $5.12 on Friday. The stock has a market capitalization of $23.10 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 2.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 2.49. Wipro has a twelve month low of $4.50 and a twelve month high of $5.99.
A number of large investors have recently modified their holdings of WIT. SG Americas Securities LLC grew its stake in Wipro by 1,236.6% during the second quarter. SG Americas Securities LLC now owns 135,603 shares of the information technology services provider’s stock valued at $650,000 after acquiring an additional 125,458 shares in the last quarter. BlackRock Inc. grew its stake in Wipro by 9.0% during the second quarter. BlackRock Inc. now owns 22,038,581 shares of the information technology services provider’s stock valued at $105,564,000 after acquiring an additional 1,812,203 shares in the last quarter. Renaissance Technologies LLC lifted its position in Wipro by 24.9% during the second quarter. Renaissance Technologies LLC now owns 627,300 shares of the information technology services provider’s stock valued at $3,005,000 after purchasing an additional 125,000 shares during the last quarter. Bank of Nova Scotia bought a new stake in Wipro during the second quarter valued at approximately $275,000. Finally, Aperio Group LLC lifted its holdings in shares of Wipro by 14.6% in 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 acquiring an additional 417,681 shares during the last quarter. 2.25% of the stock is owned by institutional investors.
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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