Wipro Limited (WIT) Releases Quarterly Earnings Results, Beats Expectations By $7.74 EPS
Wipro Limited (NYSE:WIT) posted its quarterly earnings results on Tuesday. The company reported $7.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $7.74, AnalystRatings.NET reports. The company had revenue of $107.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company posted $6.55 earnings per share. Wipro Limited’s revenue was up 16.8% compared to the same quarter last year.
Wipro Limited (NYSE:WIT) opened at 11.56 on Tuesday. Wipro Limited has a one year low of $6.744 and a one year high of $11.76. The stock has a 50-day moving average of $10.40 and a 200-day moving average of $8.6. The company has a market cap of $28.293 billion and a P/E ratio of 22.58.
A number of analysts have recently weighed in on WIT shares. Analysts at Societe Generale initiated coverage on shares of Wipro Limited in a research note to investors on Monday, September 23rd. They set a “hold” rating on the stock. On the ratings front, analysts at TheStreet upgraded shares of Wipro Limited to a “buy” rating in a research note to investors on Friday, September 13th. Finally, analysts at Macquarie upgraded shares of Wipro Limited from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average 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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