Wipro (WIT) to Release Quarterly Earnings on Thursday

Wipro (NYSE:WIT) will be posting its quarterly earnings results before the market opens on Thursday, October 17th. Analysts expect Wipro to post earnings of $0.06 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Wipro (NYSE:WIT) last released its quarterly earnings results on Friday, July 19th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Wipro had a net margin of 12.57% and a return on equity of 15.01%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the firm earned $0.06 earnings per share. On average, analysts expect Wipro to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Wipro Trading Down 3.3 %

Shares of WIT stock opened at $6.38 on Wednesday. Wipro has a 1 year low of $4.48 and a 1 year high of $7.01. The firm has a fifty day moving average price of $6.29 and a 200-day moving average price of $5.93. The company has a market cap of $33.33 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 4.32 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.70 and a quick ratio of 2.70.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WIT. Nomura Securities upgraded Wipro to a “strong-buy” rating in a research report on Tuesday, July 2nd. Nomura assumed coverage on shares of Wipro in a report on Tuesday, July 2nd. They issued a “buy” rating for the company. Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Friday, September 27th. Three research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wipro presently has an average rating of “Hold” and an average price target of $5.60.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. 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.