Wipro (NYSE:WIT) Releases Earnings Results, Beats Estimates By $0.01 EPS


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Wipro (NYSE:WIT) released its earnings results on Tuesday. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01, MarketWatch Earnings reports. Wipro had a net margin of 15.72% and a return on equity of 17.14%.

WIT traded up $0.08 during trading on Thursday, hitting $6.53. 2,707,176 shares of the company’s stock were exchanged, compared to its average volume of 2,704,858. The company has a quick ratio of 2.57, a current ratio of 2.58 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $5.54 and its two-hundred day moving average is $4.72. Wipro has a fifty-two week low of $2.52 and a fifty-two week high of $6.72. The stock has a market cap of $37.18 billion, a P/E ratio of 29.13, a PEG ratio of 2.35 and a beta of 0.60.

A number of research firms recently issued reports on WIT. Zacks Investment Research downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research report on Friday, January 8th. Investec downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday, October 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Wipro in a report on Monday, December 21st. They set a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Wipro presently has an average rating of “Hold” and an average price target of $5.50.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. It operates in three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers 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, analytics, business process, research and development, and hardware and software design services to enterprises.

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Earnings History for Wipro (NYSE:WIT)

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