Wipro (WIT) Set to Announce Earnings on Friday

Wipro (NYSE:WIT) is scheduled to post its quarterly earnings results before the market opens on Friday, April 19th. Analysts expect Wipro to post earnings of $0.07 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Wipro Stock Performance

Shares of Wipro stock opened at $5.26 on Thursday. The firm has a market cap of $27.42 billion, a PE ratio of 21.02, a P/E/G ratio of 2.15 and a beta of 0.87. Wipro has a 1 year low of $4.32 and a 1 year high of $6.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. The stock has a fifty day moving average price of $5.94 and a 200-day moving average price of $5.40.

Analyst Ratings Changes

Several brokerages have commented on WIT. BNP Paribas initiated coverage on shares of Wipro in a research report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective on the stock. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Wedbush boosted their target price on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research note on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $5.05.

Institutional Trading of Wipro

A number of institutional investors have recently modified their holdings of WIT. 1832 Asset Management L.P. bought a new stake in Wipro during the 1st quarter valued at $26,000. Enterprise Financial Services Corp purchased a new position in shares of Wipro in the fourth quarter valued at $49,000. Susquehanna International Group LLP bought a new stake in shares of Wipro during the 4th quarter valued at $56,000. NewEdge Advisors LLC purchased a new stake in Wipro during the 2nd quarter worth about $59,000. Finally, Sei Investments Co. bought a new position in Wipro in the 2nd quarter worth about $63,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through 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 and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.