Equities research analysts forecast that Wipro Limited (NYSE:WIT) will announce sales of $2.21 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Wipro’s earnings. The highest sales estimate is $2.23 billion and the lowest is $2.19 billion. Wipro reported sales of $2.16 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The business is scheduled to report its next quarterly earnings report on Friday, January 17th.
On average, analysts expect that Wipro will report full year sales of $8.67 billion for the current fiscal year, with estimates ranging from $8.49 billion to $8.78 billion. For the next financial year, analysts anticipate that the company will report sales of $9.06 billion, with estimates ranging from $8.77 billion to $9.32 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Wipro.
WIT has been the topic of several recent research reports. TheStreet downgraded shares of Wipro from a “b” rating to a “c+” rating in a research report on Tuesday, September 3rd. Credit Suisse Group upgraded shares of Wipro from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 15th. Wedbush reissued an “underperform” rating on shares of Wipro in a research note on Wednesday, July 17th. ValuEngine cut shares of Wipro from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Goldman Sachs Group raised shares of Wipro from a “sell” rating to a “neutral” rating and lowered their target price for the company from $3.47 to $3.46 in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.44.
NYSE:WIT traded down $0.04 during mid-day trading on Wednesday, hitting $3.93. The stock had a trading volume of 946,055 shares, compared to its average volume of 1,396,184. The stock has a market capitalization of $23.80 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 1.52 and a beta of 0.51. The company has a 50 day simple moving average of $3.76 and a 200-day simple moving average of $4.08. Wipro has a 52 week low of $3.51 and a 52 week high of $4.63. The company has a current ratio of 2.40, a quick ratio of 2.38 and a debt-to-equity ratio of 0.04.
Institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC acquired a new position in Wipro during the 2nd quarter valued at about $63,000. Marshall Wace North America L.P. acquired a new position in Wipro during the 2nd quarter valued at about $829,000. Schroder Investment Management Group increased its stake in Wipro by 128.3% during the 2nd quarter. Schroder Investment Management Group now owns 3,152,170 shares of the information technology services provider’s stock valued at $13,649,000 after buying an additional 1,771,181 shares during the period. Citadel Advisors LLC acquired a new position in Wipro during the 2nd quarter valued at about $1,538,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Wipro in the 2nd quarter worth approximately $337,000. 2.17% of the stock is currently owned by hedge funds and other institutional investors.
Wipro Company Profile
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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