Wipro (NYSE:WIT) Announces Quarterly Earnings Results

Wipro (NYSE:WIT) posted its earnings results on Wednesday. The information technology services provider reported $0.07 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07, MarketWatch Earnings reports. Wipro had a return on equity of 20.35% and a net margin of 17.83%. During the same quarter last year, the company earned $0.06 EPS.

NYSE WIT opened at $9.57 on Thursday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average is $9.11 and its two-hundred day moving average is $8.13. The company has a market capitalization of $54.48 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 3.66 and a beta of 0.63. Wipro has a 1-year low of $4.76 and a 1-year high of $9.80.

A hedge fund recently raised its stake in Wipro stock. Wells Fargo & Company MN grew its position in Wipro Limited (NYSE:WIT) by 26.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,787 shares of the information technology services provider’s stock after acquiring an additional 38,988 shares during the period. Wells Fargo & Company MN’s holdings in Wipro were worth $1,475,000 at the end of the most recent reporting period. 2.28% of the stock is owned by institutional investors and hedge funds.

WIT has been the topic of several research analyst reports. Zacks Investment Research raised Wipro from a “sell” rating to a “hold” rating in a research report on Wednesday, July 21st. JPMorgan Chase & Co. raised Wipro from an “underweight” rating to a “neutral” rating in a research report on Thursday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.12.

Wipro Company Profile

Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products segments. The Information Technology Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development, and hardware and software design to enterprises worldwide.

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Earnings History for Wipro (NYSE:WIT)

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