Wipro Limited Reaches New 12-Month High at $10.38 (WIT)
Wipro Limited (NYSE:WIT)’s share price reached a new 52-week high during trading on Wednesday, Analyst Ratings Network.com reports. The stock traded as high as $10.38 and last traded at $10.35, with a volume of 622,652 shares traded. The stock had previously closed at $10.18.
A number of analysts have recently weighed in on WIT shares. Analysts at TheStreet upgraded shares of Wipro Limited (NYSE:WIT) to a “buy” rating in a research note to investors on Friday, September 13th. Separately, 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. Finally, 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.21.
Wipro Limited has a 52-week low of $6.744 and a 52-week high of $10.24. The stock’s 50-day moving average is $9.25 and its 200-day moving average is $8.37. The company has a market cap of $25.503 billion and a price-to-earnings ratio of 19.88.
Wipro Limited (NYSE:WIT) last issued its quarterly earnings data on Friday, July 26th. The company reported $6.60 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $6.43 earnings per share. Wipro Limited’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Wipro Limited will post $0.45 EPS for the current fiscal year.
Wipro Limited is a global information technology (NYSE:WIT) services company.
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