Equities analysts expect Wipro Limited (NYSE:WIT) to post sales of $2.16 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Wipro’s earnings. The lowest sales estimate is $2.15 billion and the highest is $2.18 billion. Wipro posted sales of $2.01 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The business is scheduled to announce its next earnings results on Wednesday, October 23rd.
On average, analysts expect that Wipro will report full year sales of $8.84 billion for the current financial year, with estimates ranging from $8.82 billion to $8.86 billion. For the next fiscal year, analysts forecast that the business will report sales of $9.32 billion, with estimates ranging from $9.30 billion to $9.33 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Wipro.
Wipro (NYSE:WIT) last announced its earnings results on Wednesday, July 17th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Wipro had a net margin of 15.65% and a return on equity of 17.02%. The company had revenue of $139.80 million during the quarter, compared to analyst estimates of $147.23 billion. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC boosted its position in Wipro by 50.1% during the first quarter. Lindbrook Capital LLC now owns 7,064 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 2,358 shares during the period. Stevens Capital Management LP purchased a new stake in Wipro during the first quarter valued at about $56,000. Private Advisor Group LLC purchased a new stake in Wipro during the fourth quarter valued at about $57,000. Janney Montgomery Scott LLC boosted its position in Wipro by 33.3% during the first quarter. Janney Montgomery Scott LLC now owns 14,696 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 3,671 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Wipro during the first quarter valued at about $60,000. Institutional investors and hedge funds own 2.23% of the company’s stock.
NYSE:WIT traded down $0.09 during midday trading on Monday, hitting $4.17. The company had a trading volume of 1,813,076 shares, compared to its average volume of 2,300,536. Wipro has a 52-week low of $3.62 and a 52-week high of $4.63. The stock has a fifty day simple moving average of $4.36. The firm has a market cap of $25.57 billion, a P/E ratio of 18.95, a PEG ratio of 1.48 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.67 and a quick ratio of 2.65.
Wipro Company Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
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