TheStreet Upgrades Wipro Limited to “Buy” (WIT)
Wipro Limited (NYSE:WIT) was upgraded by research analysts at TheStreet to a “buy” rating in a report released on Friday, AnalystRatings.Net reports.
Shares of Wipro Limited (NYSE:WIT) traded down 1.02% during mid-day trading on Friday, hitting $9.75. 412,033 shares of the company’s stock traded hands. Wipro Limited has a 52 week low of $6.744 and a 52 week high of $10.21. The stock has a 50-day moving average of $9.11 and a 200-day moving average of $8.34. The company has a market cap of $23.863 billion and a P/E ratio of 19.24.
Wipro Limited (NYSE:WIT) last posted its quarterly earnings results on Friday, July 26th. The company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.49 by $0.11. The company had revenue of $97.29 million for the quarter, compared to the consensus estimate of $101.67 million. During the same quarter in the previous year, the company posted $6.43 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Wipro Limited will post $0.45 earnings per share for the current fiscal year.
WIT has been the subject of a number of other recent research reports. Analysts at Macquarie upgraded shares of Wipro Limited (NYSE:WIT) from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, August 29th. Analysts at HSBC downgraded shares of Wipro Limited (NYSE:WIT) from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday, August 29th.
Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.21.
Wipro Limited is a global information technology (NYSE:WIT) services company.
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