Wipro (WIT) will release its quarterly results on Wednesday


Wipro (NYSE:WIT- Get a rating) is expected to announce its results before the market opens on Wednesday, October 12. Analysts expect the company to report earnings of $0.07 per share for the quarter. Investors wishing to register for the company’s conference call can do so using this link.

Wipro (NYSE:WIT- Get a rating) last released its quarterly earnings data on Wednesday, July 20. The information technology service provider reported EPS of $0.06 for the quarter, missing analyst consensus estimates of $0.08 per ($0.02). The company posted revenue of $2.72 billion for the quarter, versus a consensus estimate of $2.75 billion. Wipro had a return on equity of 17.66% and a net margin of 14.06%. On average, analysts expect Wipro to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Wipro Price Performance

NYSE: WIT opened at $4.96 on Wednesday. The company has a 50-day moving average of $5.15 and a 200-day moving average of $5.85. The company has a market capitalization of $27.12 billion, a price/earnings ratio of 18.37, a PEG ratio of 1.94 and a beta of 0.82. Wipro has a 52-week minimum of $4.68 and a 52-week maximum of $9.96. The company has a debt ratio of 0.09, a quick ratio of 1.94 and a current ratio of 1.95.

Hedge funds weigh on Wipro

Several institutional investors have recently increased or reduced their stake in WIT. 1832 Asset Management LP bought a new position in shares of Wipro in the first quarter worth about $26,000. NewEdge Advisors LLC bought a new position in shares of Wipro in the second quarter worth approximately $59,000. First Republic Investment Management Inc. bought a new position in shares of Wipro in the first quarter worth approximately $96,000. SVB Wealth LLC increased its stake in Wipro shares by 43.8% in the second quarter. SVB Wealth LLC now owns 19,609 shares of the information technology service provider worth $104,000 after acquiring an additional 5,972 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in Wipro shares by 56.6% in the first quarter. Evergreen Capital Management LLC now owns 24,082 shares of the information technology service provider worth $186,000 after acquiring 8,706 additional shares in the last quarter. 2.13% of the shares are held by institutional investors.

Wall Street analysts predict growth

A number of stock analysts have recently commented on the stock. The Goldman Sachs Group moved Wipro shares from a “sell” rating to a “buy” rating and set a price target of $4.87 for the company in a Tuesday, September 13 report. They noted that the move was a review call. TheStreet downgraded Wipro’s shares from a “b-” to a “c+” rating in a Friday, July 8 report. Wedbush reissued an “underperforming” rating on Wipro shares in a Wednesday, July 20, report. Citigroup downgraded Wipro shares from a “buy” rating to a “sell” rating in a Wednesday, July 20, report. To finish, StockNews.com downgraded Wipro shares from a “buy” rating to a “hold” rating in a Wednesday, June 29 report. Five analysts gave the stock a sell rating, two gave the company a hold rating and three gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.79.

Wipro Company Profile

(Get a rating)

Wipro Limited operates as a worldwide information technology (IT), consulting and business process services company. It operates through three segments: IT Services, IT Products and Indian State-Run Enterprise Services (ISRE). The IT Services segment offers IT services and IT services, including digital strategy consulting, 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 enterprise hardware and software design services.

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Earnings history for Wipro (NYSE:WIT)

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