$2.75 Billion in Sales Expected for Infosys Limited (INFY) This Quarter
Wall Street brokerages forecast that Infosys Limited (NYSE:INFY) will report sales of $2.75 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Infosys Limited’s earnings. The highest sales estimate is $2.90 billion and the lowest is $2.59 billion. Infosys Limited posted sales of $2.59 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The business is expected to issue its next quarterly earnings report before the market opens on Friday, October 13th.
According to Zacks, analysts expect that Infosys Limited will report full-year sales of $2.75 billion for the current year, with estimates ranging from $10.82 billion to $11.05 billion. For the next financial year, analysts expect that the firm will post sales of $11.70 billion per share, with estimates ranging from $10.90 billion to $12.05 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Infosys Limited.
Infosys Limited (NYSE:INFY) last announced its quarterly earnings data on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. The business had revenue of $170.78 billion during the quarter, compared to analyst estimates of $170.51 billion. During the same period last year, the company earned $0.22 earnings per share. Infosys Limited’s quarterly revenue was up 1.8% compared to the same quarter last year.
A number of equities analysts recently weighed in on INFY shares. William Blair lowered shares of Infosys Limited from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 13th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Infosys Limited in a research note on Tuesday, April 18th. Zacks Investment Research lowered shares of Infosys Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $15.50 target price on shares of Infosys Limited in a research note on Tuesday, April 18th. Finally, Cowen and Company set a $15.00 target price on shares of Infosys Limited and gave the stock a “hold” rating in a research note on Thursday, April 13th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Infosys Limited currently has a consensus rating of “Hold” and a consensus target price of $16.08.
A number of large investors have recently modified their holdings of the company. Kernodle & Katon Asset Management Group LLC acquired a new stake in shares of Infosys Limited during the first quarter valued at approximately $100,000. PNC Financial Services Group Inc. boosted its stake in shares of Infosys Limited by 82.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,547 shares of the technology company’s stock valued at $120,000 after buying an additional 3,400 shares during the period. Equity Investment Corp Acquisition Inc acquired a new stake in shares of Infosys Limited during the second quarter valued at approximately $151,000. Greenleaf Trust acquired a new stake in shares of Infosys Limited during the first quarter valued at approximately $168,000. Finally, Personal Capital Advisors Corp acquired a new stake in shares of Infosys Limited during the second quarter valued at approximately $166,000. 20.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Infosys Limited (NYSE INFY) opened at 15.67 on Friday. The stock has a market capitalization of $35.82 billion, a price-to-earnings ratio of 16.51 and a beta of 0.79. Infosys Limited has a one year low of $13.42 and a one year high of $16.71. The company’s 50 day moving average price is $15.28 and its 200 day moving average price is $15.03.
Infosys Limited Company Profile
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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