Wipro (NYSE:WIT) Issues Quarterly Earnings Results

Wipro (NYSE:WIT) issued its quarterly earnings results on Wednesday. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06, Morningstar.com reports. Wipro had a return on equity of 17.02% and a net margin of 15.65%. The firm had revenue of $139.80 million during the quarter, compared to analyst estimates of $147.23 billion. The business’s revenue for the quarter was down 5.0% on a year-over-year basis.

NYSE WIT opened at $4.17 on Friday. Wipro has a 1-year low of $3.62 and a 1-year high of $4.63. 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 firm has a 50-day moving average of $4.36. The company has a market cap of $25.57 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.48 and a beta of 0.49.

WIT has been the subject of a number of recent research reports. Zacks Investment Research raised Zymeworks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Saturday, April 27th. Macquarie lowered Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 16th. Wedbush reissued an “underperform” rating on shares of Wipro in a research note on Wednesday. Finally, Nomura lowered Wipro from a “neutral” rating to a “reduce” rating in a research note on Thursday, April 18th. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $4.76.

Large investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. increased its holdings in Wipro by 6.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 63,571 shares of the information technology services provider’s stock valued at $275,000 after purchasing an additional 4,120 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in Wipro by 33.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 139,918 shares of the information technology services provider’s stock valued at $556,000 after purchasing an additional 34,978 shares during the period. Nordea Investment Management AB increased its holdings in Wipro by 72.8% during the 1st quarter. Nordea Investment Management AB now owns 508,912 shares of the information technology services provider’s stock valued at $2,024,000 after purchasing an additional 214,451 shares during the period. Banco Santander S.A. increased its holdings in Wipro by 15.4% during the 1st quarter. Banco Santander S.A. now owns 53,333 shares of the information technology services provider’s stock valued at $212,000 after purchasing an additional 7,133 shares during the period. Finally, Meitav Dash Investments Ltd. increased its holdings in Wipro by 32.4% during the 1st quarter. Meitav Dash Investments Ltd. now owns 141,469 shares of the information technology services provider’s stock valued at $560,000 after purchasing an additional 34,605 shares during the period. Institutional investors own 2.23% of the company’s stock.

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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Earnings History for Wipro (NYSE:WIT)

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