Wipro (NYSE:WIT) issued its earnings results on Tuesday. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01), MarketWatch Earnings reports. Wipro had a net margin of 17.33% and a return on equity of 21.07%. During the same period in the prior year, the company posted $0.07 EPS.
Shares of Wipro stock traded down $0.81 on Wednesday, reaching $8.70. The company had a trading volume of 8,149,799 shares, compared to its average volume of 2,731,301. The firm’s 50-day moving average price is $9.06 and its two-hundred day moving average price is $8.92. Wipro has a 1 year low of $6.09 and a 1 year high of $9.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.30 and a quick ratio of 2.30. The firm has a market cap of $47.67 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 3.71 and a beta of 0.66.
WIT has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Wipro from an “underweight” rating to a “neutral” rating in a research note on Thursday, September 30th. Morgan Stanley raised Wipro from an “underweight” rating to an “equal weight” rating in a research note on Thursday, October 14th. Finally, Zacks Investment Research raised Wipro from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, January 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wipro presently has an average rating of “Hold” and an average price target of $8.62.
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.
Featured Story: What is the market perform rating?
Receive News & Ratings for Wipro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro and related companies with MarketBeat.com's FREE daily email newsletter.