Analysts expect Wipro Limited (NYSE:WIT) to post sales of $2.16 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Wipro’s earnings, with estimates ranging from $2.12 billion to $2.20 billion. Wipro posted sales of $2.14 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The business is expected to issue its next earnings results before the market opens on Friday, January 18th.
On average, analysts expect that Wipro will report full-year sales of $8.47 billion for the current year, with estimates ranging from $8.45 billion to $8.48 billion. For the next fiscal year, analysts forecast that the company will report sales of $8.95 billion, with estimates ranging from $8.79 billion to $9.11 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Wipro.
Wipro (NYSE:WIT) last released its earnings results on Wednesday, October 24th. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.14 billion. Wipro had a return on equity of 15.63% and a net margin of 13.84%.
A number of research firms have recently weighed in on WIT. Zacks Investment Research upgraded Wipro from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. Deutsche Bank began coverage on Wipro in a research report on Thursday. They set a “hold” rating for the company. TheStreet downgraded Wipro from a “b-” rating to a “c” rating in a research report on Wednesday, October 24th. Finally, ValuEngine upgraded Wipro from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.00.
WIT stock opened at $5.12 on Friday. The firm has a market cap of $23.10 billion, a PE ratio of 19.69, a PEG ratio of 2.70 and a beta of 0.40. Wipro has a twelve month low of $4.50 and a twelve month high of $5.99. The company has a quick ratio of 2.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIT. BlackRock Inc. increased its holdings in Wipro by 9.0% in the second quarter. BlackRock Inc. now owns 22,038,581 shares of the information technology services provider’s stock valued at $105,564,000 after purchasing an additional 1,812,203 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in Wipro by 64.2% in the third quarter. ClariVest Asset Management LLC now owns 1,408,800 shares of the information technology services provider’s stock valued at $7,340,000 after purchasing an additional 550,900 shares during the last quarter. SG Americas Securities LLC increased its holdings in Wipro by 376.1% in the third quarter. SG Americas Securities LLC now owns 645,567 shares of the information technology services provider’s stock valued at $3,363,000 after purchasing an additional 509,964 shares during the last quarter. Nordea Investment Management AB bought a new stake in Wipro in the third quarter valued at about $2,373,000. Finally, Aperio Group LLC increased its holdings in Wipro by 14.6% in the third quarter. Aperio Group LLC now owns 3,268,912 shares of the information technology services provider’s stock valued at $17,031,000 after purchasing an additional 417,681 shares during the last quarter. Institutional investors and hedge funds own 2.25% of the company’s stock.
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.
See Also: Google Finance Portfolio Tips and Tricks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wipro Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Wipro and related companies with MarketBeat.com’s FREE daily email newsletter.