$0.07 Earnings Per Share Expected for Wipro Limited (WIT) This Quarter

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.

About Wipro

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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