Wipro (NYSE:WIT) Issues Quarterly Earnings Results

Wipro (NYSE:WIT) announced its quarterly earnings data on Tuesday. The information technology services provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01, MarketWatch Earnings reports. Wipro had a net margin of 15.72% and a return on equity of 17.14%.

Wipro stock traded up $0.08 during midday trading on Thursday, reaching $6.53. 109,564 shares of the stock traded hands, compared to its average volume of 2,703,346. The company has a current ratio of 2.58, a quick ratio of 2.57 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $5.54 and a two-hundred day moving average price of $4.72. The firm has a market cap of $37.18 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.35 and a beta of 0.60. Wipro has a fifty-two week low of $2.52 and a fifty-two week high of $6.64.

Several research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Wipro in a report on Monday, December 21st. They issued a “sell” rating for the company. Investec lowered shares of Wipro from a “buy” rating to a “hold” rating in a report on Wednesday, October 14th. Finally, Zacks Investment Research lowered shares of Wipro from a “buy” rating to a “hold” rating in a report on Friday, January 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Wipro presently has an average rating of “Hold” and a consensus target price of $5.50.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. It operates in three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers 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, analytics, business process, research and development, and hardware and software design services to enterprises.

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Earnings History for Wipro (NYSE:WIT)

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