FY2023 EPS Estimates for Wipro Limited Boosted by Analyst (NYSE:WIT)

Wipro Limited (NYSE:WIT) – Equities researchers at Jefferies Financial Group upped their FY2023 earnings estimates for Wipro in a research report issued on Thursday, January 13th. Jefferies Financial Group analyst A. Agarwal now expects that the information technology services provider will post earnings per share of $0.31 for the year, up from their prior estimate of $0.30. Jefferies Financial Group also issued estimates for Wipro’s FY2024 earnings at $0.34 EPS.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Tuesday, January 11th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). Wipro had a net margin of 16.25% and a return on equity of 20.50%. During the same quarter last year, the business posted $0.07 EPS.

Other research analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of Wipro from an “underweight” rating to an “equal weight” rating in a research note on Thursday, October 14th. JPMorgan Chase & Co. upgraded shares of Wipro from an “underweight” rating to a “neutral” rating in a research note on Thursday, September 30th. Finally, Zacks Investment Research upgraded shares of Wipro from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.62.

Shares of Wipro stock opened at $8.58 on Friday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.09. Wipro has a 12-month low of $6.09 and a 12-month high of $9.96. The firm has a market capitalization of $47.01 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 3.28 and a beta of 0.66. The firm’s 50 day simple moving average is $9.04 and its two-hundred day simple moving average is $8.92.

The company also recently declared an annual dividend, which will be paid on Monday, January 24th. Investors of record on Monday, January 24th will be issued a dividend of $0.012 per share. This represents a yield of 0.14%. The ex-dividend date is Friday, January 21st. Wipro’s dividend payout ratio (DPR) is presently 3.45%.

A number of hedge funds and other institutional investors have recently made changes to their positions in WIT. Amundi Pioneer Asset Management Inc. boosted its holdings in Wipro by 33.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 139,918 shares of the information technology services provider’s stock worth $556,000 after buying an additional 34,978 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Wipro by 53.7% during the second quarter. Envestnet Asset Management Inc. now owns 86,519 shares of the information technology services provider’s stock worth $676,000 after buying an additional 30,229 shares in the last quarter. American Century Companies Inc. lifted its holdings in Wipro by 5.4% during the second quarter. American Century Companies Inc. now owns 98,216 shares of the information technology services provider’s stock valued at $767,000 after purchasing an additional 5,027 shares in the last quarter. Wolverine Trading LLC purchased a new position in Wipro during the second quarter valued at $109,000. Finally, Citigroup Inc. lifted its holdings in Wipro by 12,932.9% during the second quarter. Citigroup Inc. now owns 452,242 shares of the information technology services provider’s stock valued at $3,532,000 after purchasing an additional 448,772 shares in the last quarter. 2.30% of the stock is currently owned by hedge funds and other institutional investors.

About Wipro

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.

Read More: Google Finance Portfolio

Earnings History and Estimates for Wipro (NYSE:WIT)

Receive News & Ratings for Wipro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro and related companies with MarketBeat.com's FREE daily email newsletter.