Wipro (NYSE:WIT) Issues Earnings Results

Wipro (NYSE:WIT) issued its earnings results on Tuesday. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07, MarketWatch Earnings reports. Wipro had a net margin of 17.83% and a return on equity of 20.35%. During the same period last year, the firm posted $0.06 EPS.

Wipro stock traded up $0.16 during trading hours on Thursday, hitting $9.73. The company had a trading volume of 48,849 shares, compared to its average volume of 1,941,666. The firm’s fifty day moving average is $9.11 and its 200-day moving average is $8.13. Wipro has a fifty-two week low of $4.76 and a fifty-two week high of $9.80. The firm has a market capitalization of $55.39 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 3.66 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.20 and a quick ratio of 2.20.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Wipro from an “underweight” rating to a “neutral” rating in a research report on Thursday, September 30th. Morgan Stanley upgraded shares of Wipro from an “underweight” rating to an “equal weight” rating in a research report on Thursday. Finally, Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research report on Wednesday, July 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Wipro has an average rating of “Hold” and a consensus target price of $7.12.

An institutional investor recently raised its position in Wipro stock. Morgan Stanley lifted its holdings in shares of Wipro Limited (NYSE:WIT) by 14.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,996,833 shares of the information technology services provider’s stock after purchasing an additional 383,499 shares during the quarter. Morgan Stanley owned approximately 0.05% of Wipro worth $23,406,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.28% of the company’s stock.

Wipro Company Profile

Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products segments. The Information Technology Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development, and hardware and software design to enterprises worldwide.

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Earnings History for Wipro (NYSE:WIT)

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