Shares of Wipro Limited (NYSE:WIT) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $4.77.
Several analysts have commented on WIT shares. Macquarie lowered Wipro from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 16th. Nomura lowered Wipro from a “neutral” rating to a “reduce” rating in a report on Thursday, April 18th. Wedbush dropped their price objective on Wipro from $4.25 to $3.75 and set an “underperform” rating on the stock in a report on Thursday, March 21st. Finally, Zacks Investment Research lowered Wipro from a “buy” rating to a “hold” rating in a report on Saturday, April 27th.
Shares of WIT stock opened at $4.16 on Friday. The firm’s 50 day moving average is $4.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.65 and a current ratio of 2.67. The stock has a market capitalization of $25.75 billion, a PE ratio of 18.91, a P/E/G ratio of 1.49 and a beta of 0.49. Wipro has a twelve month low of $3.62 and a twelve month high of $4.63.
Wipro (NYSE:WIT) last issued its quarterly earnings data on Tuesday, April 16th. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Wipro had a net margin of 15.39% and a return on equity of 16.81%. The business had revenue of $150.06 billion during the quarter, compared to analyst estimates of $150.97 billion. During the same period in the previous year, the business posted $9.08 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts anticipate that Wipro will post 0.25 EPS for the current year.
Large investors have recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake in shares of Wipro by 50.1% in the first quarter. Lindbrook Capital LLC now owns 7,064 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 2,358 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Wipro in the first quarter worth approximately $56,000. Private Advisor Group LLC acquired a new stake in shares of Wipro in the fourth quarter worth approximately $57,000. Janney Montgomery Scott LLC boosted its stake in shares of Wipro by 33.3% in the first quarter. Janney Montgomery Scott LLC now owns 14,696 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 3,671 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Wipro in the first quarter worth approximately $60,000. 2.23% 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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