Wedbush Weighs in on Infosys Limited’s Q3 2018 Earnings (INFY)
Infosys Limited (NYSE:INFY) – Research analysts at Wedbush raised their Q3 2018 EPS estimates for Infosys in a note issued to investors on Tuesday. Wedbush analyst M. Katri now forecasts that the technology company will post earnings of $0.25 per share for the quarter, up from their prior forecast of $0.24. Wedbush also issued estimates for Infosys’ Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.98 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.26 EPS and FY2019 earnings at $1.01 EPS.
Infosys (NYSE:INFY) last released its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. Infosys had a net margin of 21.04% and a return on equity of 21.05%. During the same quarter in the previous year, the firm earned $0.24 earnings per share.
A number of other research firms also recently commented on INFY. BMO Capital Markets reissued a “hold” rating and set a $16.00 price objective on shares of Infosys in a report on Friday, August 18th. UBS downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Deutsche Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday, August 28th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Infosys in a report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Infosys currently has an average rating of “Hold” and a consensus price target of $15.34.
Infosys (INFY) traded down $0.02 during mid-day trading on Thursday, reaching $15.89. 5,806,700 shares of the company were exchanged, compared to its average volume of 6,290,473. The stock has a market capitalization of $36,365.15, a P/E ratio of 16.40, a P/E/G ratio of 1.73 and a beta of 0.69. Infosys has a 52-week low of $13.42 and a 52-week high of $16.15.
Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in Infosys by 198.2% during the second quarter. Tower Research Capital LLC TRC now owns 7,967 shares of the technology company’s stock worth $120,000 after acquiring an additional 5,295 shares during the last quarter. Equity Investment Corp Acquisition Inc acquired a new position in Infosys during the second quarter worth about $151,000. Foster & Motley Inc. acquired a new position in Infosys during the third quarter worth about $166,000. Northwestern Mutual Wealth Management Co. raised its position in Infosys by 4.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock worth $201,000 after acquiring an additional 605 shares during the last quarter. Finally, High Pointe Capital Management LLC acquired a new position in Infosys during the third quarter worth about $203,000. Institutional investors own 18.95% of the company’s stock.
Infosys 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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