Analysts expect Wipro Limited (NYSE: WIT) to post $ 2.30 billion in sales in the current fiscal quarter, according to Zacks Investment Research. Two analysts estimated Wipro’s profits at between $ 2.24 billion and $ 2.35 billion. Wipro’s sales for the same quarter last year were $ 1.97 billion, up 16.8% year-over-year. The company is expected to announce its next quarterly results on Tuesday, July 13th.
On average, analysts expect Wipro to report full year sales of $ 9.87 billion in the current fiscal year, with estimates ranging from $ 9.32 billion to $ 10.38 billion. Analysts expect the company’s next fiscal year to reach $ 10.79 billion in sales, with estimates ranging from $ 10.34 billion to $ 11.37 billion. Zacks Investment Research’s average sales are the average of a survey of analysts working with Wipro.
Wipro (NYSE: WIT) last released quarterly earnings data on Wednesday, April 14. The information technology service provider reported earnings per share of $ 0.07 for the quarter, in line with the Thomson Reuters consensus of $ 0.07. Wipro had a net margin of 17.42% and a return on equity of 18.91%. The company’s revenue for the quarter was $ 2.22 billion, compared with the consensus estimate of $ 2.18 billion.
Several analysts have recently released reports on WIT stock. In a report on Friday, April 16, Nomura raised its rating on Wipro from downgraded to neutral. Sanford S. Bernstein raised Wipro from “poor” to “market” and set a target share price of $ 6.23 in a research report on Wednesday, May 26th. Citigroup Inc. The minimum coupon yield of 3% is protected based on Russell upgrading Wipro from Neutral to Buy in a research note on Friday April 16th. Zacks Investment Research downgraded Wipro from Buy to Hold in its report on Thursday, May 6. Finally, Citigroup upgraded Wipro’s rating from Neutral to Buy in its research report on Friday, April 16. One investment analyst gave the stock a sell rating, four gave a holding rating, and two gave the stock a buy rating. Wipro currently has an average Hold rating and an average target price of $ 7.12.
Wipro shares opened at $ 8.24 on Friday. The company has a debt to equity ratio of 0.01, a current ratio of 2.27 and a quick ratio of 2.27. The fifty-day moving average is $ 7.32. The stock has a market cap of $ 46.91 billion, a P / E ratio of 31.69, a price-to-earnings ratio of 2.95, and a beta of 0.60. Wipro has a 12-month low of $ 3.08 and a 12-month high of $ 8.25.
Institutional investors and hedge funds have recently increased or decreased their stakes in the company. BlackRock Inc. increased its stake in Wipro by 35.4% during the first quarter. BlackRock Inc. now holds 15,944,386 shares in an information technology service provider for $ 101,088,000 after acquiring an additional 4,168,869 shares during that period. AQR Capital Management LLC increased its stake in Wipro by 11.8% in the first quarter. AQR Capital Management LLC now owns 14,382,007 shares in an information technology service provider valued at $ 91,182,000 after acquiring an additional 1,518,939 shares in the last quarter. Schroder Investment Management Group increased its position at Wipro by 63.3% in Q1. Schroder Investment Management Group now owns 6,148,626 shares in the information services company for $ 38,982,000 after acquiring an additional 2,384,291 shares in the last quarter. Goldman Sachs Group Inc. in the first quarter increased its stake in Wipro by 20.3%. Goldman Sachs Group Inc. now owns 4,816,801 shares in an information technology service provider for $ 30,539,000 after acquiring an additional 811,641 shares in the last quarter. Finally, LLC Aperio Group increased its stake in Wipro shares by 2.7% in the 4th quarter. Aperio Group LLC currently holds 4,741,413 shares in an information technology service provider valued at US $ 26,789,000 after purchasing an additional 125,752 shares in the last quarter. Institutional investors own 2.33% of the company’s shares.
Wipro company profile
Wipro Limited operates worldwide as an information technology (IT), consulting and business process (BPS) company. It operates in three segments: IT Services, IT Products and India Government Enterprise Services (ISRE). The IT services segment offers IT and IT services, including digital strategy consulting, customer-centric design, technology consulting, IT consulting, custom application design, development, reengineering and maintenance, system integration, package implementation, infrastructure , analytics, business processes, research and development, and hardware and software development services for enterprises.
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