Wipro Limited (NYSE:WIT) Expected to Post Earnings of $0.06 Per Share

Wall Street analysts expect Wipro Limited (NYSE:WIT) to post earnings of $0.06 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Wipro’s earnings. Wipro also posted earnings per share of $0.06 during the same quarter last year. The business is expected to issue its next quarterly earnings results on Tuesday, January 12th.

On average, analysts expect that Wipro will report full-year earnings of $0.24 per share for the current financial year, with EPS estimates ranging from $0.22 to $0.24. For the next fiscal year, analysts expect that the business will post earnings of $0.25 per share, with EPS estimates ranging from $0.23 to $0.26. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Wipro.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Sunday, October 18th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Wipro had a return on equity of 17.66% and a net margin of 15.88%.

Several brokerages recently weighed in on WIT. Zacks Investment Research cut Wipro from a “buy” rating to a “hold” rating in a research report on Thursday. Investec cut Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded Wipro from a “c+” rating to a “b” rating in a research report on Wednesday, July 29th. Finally, Citigroup upgraded Wipro from a “neutral” rating to a “buy” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $4.25.

Institutional investors and hedge funds have recently modified their holdings of the stock. Balentine LLC purchased a new stake in shares of Wipro during the second quarter worth approximately $31,000. Glenmede Trust Co. NA increased its position in shares of Wipro by 55.8% during the second quarter. Glenmede Trust Co. NA now owns 14,864 shares of the information technology services provider’s stock worth $49,000 after purchasing an additional 5,323 shares in the last quarter. WealthStone Inc. purchased a new stake in shares of Wipro during the second quarter worth approximately $52,000. Principal Financial Group Inc. increased its position in shares of Wipro by 32.0% during the first quarter. Principal Financial Group Inc. now owns 16,203 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 3,931 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Wipro by 56.7% during the second quarter. Ballentine Partners LLC now owns 16,925 shares of the information technology services provider’s stock worth $56,000 after purchasing an additional 6,121 shares in the last quarter. Hedge funds and other institutional investors own 2.32% of the company’s stock.

NYSE WIT traded down $0.02 during trading on Friday, hitting $5.01. The company’s stock had a trading volume of 1,450,496 shares, compared to its average volume of 1,264,160. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.58 and a quick ratio of 2.57. The company has a market cap of $28.52 billion, a PE ratio of 21.78, a P/E/G ratio of 2.21 and a beta of 0.63. The business’s 50 day simple moving average is $4.67 and its 200-day simple moving average is $3.74. Wipro has a fifty-two week low of $2.52 and a fifty-two week high of $5.50.

About Wipro

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

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Earnings History and Estimates for Wipro (NYSE:WIT)

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