Wipro (WIT) Set to Announce Quarterly Earnings on Friday

Wipro (NYSE:WIT) is scheduled to be posting its quarterly earnings results before the market opens on Friday, April 19th. Analysts expect Wipro to post earnings of $0.07 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Wipro Stock Performance

Shares of WIT stock opened at $5.26 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. Wipro has a 12-month low of $4.32 and a 12-month high of $6.45. The stock has a market capitalization of $27.42 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.15 and a beta of 0.87. The firm’s 50 day moving average is $5.94 and its 200 day moving average is $5.40.

Hedge Funds Weigh In On Wipro

Several large investors have recently made changes to their positions in WIT. Franklin Resources Inc. boosted its stake in shares of Wipro by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 22,298 shares of the information technology services provider’s stock worth $104,000 after acquiring an additional 2,509 shares during the period. First Republic Investment Management Inc. bought a new position in Wipro in the 1st quarter worth approximately $96,000. Glenmede Trust Co. NA grew its holdings in Wipro by 43.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 19,669 shares of the information technology services provider’s stock valued at $92,000 after buying an additional 6,005 shares in the last quarter. KLR Investment Advisors LLC bought a new stake in shares of Wipro during the first quarter valued at approximately $89,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Wipro in the first quarter worth $89,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WIT has been the subject of several research analyst reports. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Tuesday. BNP Paribas assumed coverage on shares of Wipro in a research note on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective on the stock. Wedbush upped their target price on shares of Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a report on Tuesday, January 16th. Finally, TheStreet raised Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Four analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.05.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through 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 and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.