Wipro (NYSE:WIT) Announces Quarterly Earnings Results, Meets Estimates

Wipro (NYSE:WIT) issued its quarterly earnings results on Tuesday. The information technology services provider reported $0.07 EPS for the quarter, meeting the 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 in the previous year, the firm earned $0.06 earnings per share.

Shares of WIT opened at $9.57 on Thursday. Wipro has a 52-week low of $4.76 and a 52-week high of $9.80. The business’s fifty day moving average is $9.11 and its 200-day moving average is $8.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market cap of $54.48 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 3.66 and a beta of 0.63.

A number of research firms have recently issued reports on WIT. Morgan Stanley raised Wipro from an “underweight” rating to an “equal weight” rating in a research report on Thursday. Zacks Investment Research upgraded Wipro from a “sell” rating to a “hold” rating in a research note on Wednesday, July 21st. Finally, JPMorgan Chase & Co. upgraded Wipro from an “underweight” rating to a “neutral” rating in a research note on Thursday, September 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.12.

An institutional investor recently raised its position in Wipro stock. Morgan Stanley grew its holdings in Wipro Limited (NYSE:WIT) by 14.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,996,833 shares of the information technology services provider’s stock after purchasing an additional 383,499 shares during the period. Morgan Stanley owned approximately 0.05% of Wipro worth $23,406,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.28% of the company’s stock.

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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