Wipro Limited (NYSE:WIT) has received an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.50.
WIT has been the topic of several research reports. Investec lowered Wipro from a “buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research note on Saturday, November 7th.
Hedge funds have recently added to or reduced their stakes in the company. Balentine LLC bought a new stake in shares of Wipro in the 2nd quarter valued at approximately $31,000. Fisher Asset Management LLC grew its stake in shares of Wipro by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 4,835,337 shares of the information technology services provider’s stock valued at $22,726,000 after purchasing an additional 27,323 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Wipro by 34.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 760,271 shares of the information technology services provider’s stock valued at $3,573,000 after purchasing an additional 194,650 shares during the period. Comerica Bank grew its stake in shares of Wipro by 5.2% in the 2nd quarter. Comerica Bank now owns 296,018 shares of the information technology services provider’s stock valued at $1,157,000 after purchasing an additional 14,521 shares during the period. Finally, Cetera Investment Advisers bought a new stake in shares of Wipro in the 3rd quarter valued at approximately $281,000. Institutional investors own 2.32% of the company’s stock.
Wipro stock opened at $5.32 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.57 and a current ratio of 2.58. The business’s 50-day simple moving average is $5.07 and its 200-day simple moving average is $4.30. The firm has a market capitalization of $30.29 billion, a PE ratio of 23.13, a PEG ratio of 2.35 and a beta of 0.60. Wipro has a 52 week low of $2.52 and a 52 week high of $5.50.
Wipro (NYSE:WIT) last issued its quarterly earnings results on Sunday, October 18th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Wipro had a return on equity of 17.14% and a net margin of 15.72%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.04 billion. Research analysts forecast that Wipro will post 0.23 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. 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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