Wipro Limited (NYSE:WIT) was upgraded by research analysts at Macquarie from an “underperform” rating to a “neutral” rating in a report released on Thursday, TheFlyOnTheWall.com reports.
Separately, analysts at HSBC downgraded shares of Wipro Limited from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday.
Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Wipro Limited presently has a consensus rating of “Hold” and a consensus price target of $8.21.
Wipro Limited (NYSE:WIT) opened at 9.07 on Thursday. Wipro Limited has a 52 week low of $6.744 and a 52 week high of $9.62. The stock’s 50-day moving average is $8.69 and its 200-day moving average is $8.26. The company has a market cap of $22.199 billion and a price-to-earnings ratio of 17.71.
Wipro Limited (NYSE:WIT) last issued its quarterly earnings data on Friday, July 26th. The company reported $6.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $6.49 by $0.11. The company had revenue of $97.29 million for the quarter, compared to the consensus estimate of $101.67 million. During the same quarter in the prior year, the company posted $6.43 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Wipro Limited will post $0.45 earnings per share for the current fiscal year.
Wipro Limited is a global information technology (NYSE:WIT) services company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.