Wipro Limited (NYSE:WIT) has been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $4.76.
A number of brokerages have recently commented on WIT. Credit Suisse Group lowered shares of Wipro from a “neutral” rating to an “underperform” rating and set a $5.78 target price on the stock. in a research report on Tuesday, February 26th. Zacks Investment Research raised shares of Wipro from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Saturday, January 26th. TheStreet raised shares of Wipro from a “c” rating to a “b-” rating in a research report on Friday, January 18th. Deutsche Bank began coverage on shares of Wipro in a research report on Thursday, January 10th. They set a “hold” rating on the stock. Finally, Nomura lowered shares of Wipro from a “neutral” rating to a “reduce” rating in a research report on Thursday.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Command Financial Services Inc. bought a new position in shares of Wipro during the fourth quarter valued at approximately $28,000. First Command Bank bought a new position in shares of Wipro during the fourth quarter valued at approximately $28,000. Private Advisor Group LLC bought a new position in shares of Wipro during the fourth quarter valued at approximately $57,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Wipro during the first quarter valued at approximately $60,000. Finally, Financial Gravity Wealth Inc. bought a new position in shares of Wipro during the first quarter valued at approximately $67,000. Hedge funds and other institutional investors own 1.72% of the company’s stock.
Shares of NYSE:WIT opened at $4.39 on Friday. The company has a market cap of $26.35 billion, a PE ratio of 21.95, a P/E/G ratio of 1.73 and a beta of 0.48. Wipro has a one year low of $3.38 and a one year high of $4.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.77 and a current ratio of 2.79.
Wipro (NYSE:WIT) last issued its earnings results on Tuesday, April 16th. The information technology services provider reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). The company had revenue of $150.06 billion for the quarter, compared to analysts’ expectations of $150.97 billion. Wipro had a return on equity of 16.16% and a net margin of 14.51%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $9.08 earnings per share. Sell-side analysts anticipate that Wipro will post 0.21 earnings per share for the current year.
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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