Wipro (NYSE:WIT) Announces Quarterly Earnings Results

Wipro (NYSE:WIT) posted its quarterly earnings data on Wednesday. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04, Zacks reports. Wipro had a net margin of 13.96% and a return on equity of 15.46%.

Wipro Stock Performance

Shares of NYSE WIT opened at $2.82 on Wednesday. Wipro has a 12-month low of $2.55 and a 12-month high of $3.79. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The company has a market cap of $29.44 billion, a PE ratio of 19.42, a P/E/G ratio of 3.08 and a beta of 0.96. The stock has a 50 day simple moving average of $3.20 and a 200-day simple moving average of $4.59.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WIT shares. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. 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.