Brokerages Expect Infosys Ltd (NYSE:INFY) Will Announce Quarterly Sales of $3.21 Billion

Brokerages expect Infosys Ltd (NYSE:INFY) to post $3.21 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Infosys’ earnings. The highest sales estimate is $3.29 billion and the lowest is $3.16 billion. Infosys reported sales of $2.92 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The company is expected to report its next earnings results on Tuesday, October 15th.

According to Zacks, analysts expect that Infosys will report full-year sales of $12.92 billion for the current fiscal year, with estimates ranging from $12.80 billion to $13.20 billion. For the next financial year, analysts forecast that the firm will post sales of $13.98 billion, with estimates ranging from $13.71 billion to $14.47 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Infosys.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Friday, July 12th. The technology company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Infosys had a net margin of 18.26% and a return on equity of 25.55%. The company had revenue of $218.03 billion for the quarter, compared to the consensus estimate of $216.51 billion. During the same period in the prior year, the firm posted $0.13 EPS. Infosys’s revenue for the quarter was up 14.0% on a year-over-year basis.



Several analysts recently commented on the stock. Wells Fargo & Co set a $12.00 price objective on shares of Infosys and gave the company a “hold” rating in a research report on Friday, May 31st. Zacks Investment Research raised shares of Infosys from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. BMO Capital Markets set a $13.00 price objective on shares of Infosys and gave the company a “hold” rating in a research report on Monday, July 15th. Wedbush reissued a “neutral” rating on shares of Infosys in a research report on Friday, July 12th. Finally, Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.96.

Several large investors have recently modified their holdings of INFY. Next Capital Management LLC bought a new stake in Infosys during the 1st quarter worth approximately $26,000. Financial Gravity Wealth Inc. bought a new stake in Infosys during the 1st quarter worth approximately $27,000. NEXT Financial Group Inc raised its stake in Infosys by 85.7% during the 2nd quarter. NEXT Financial Group Inc now owns 2,492 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,150 shares during the period. Asahi Life Asset Management CO. LTD. bought a new stake in Infosys during the 1st quarter worth approximately $31,000. Finally, American Beacon Advisors Inc. raised its stake in Infosys by 56.2% during the 1st quarter. American Beacon Advisors Inc. now owns 3,139 shares of the technology company’s stock worth $34,000 after acquiring an additional 1,129 shares during the period. Hedge funds and other institutional investors own 17.28% of the company’s stock.

INFY stock traded up $0.20 during trading on Thursday, hitting $11.33. 13,538,536 shares of the stock traded hands, compared to its average volume of 10,199,659. Infosys has a 1 year low of $8.85 and a 1 year high of $11.64. The firm’s 50 day moving average is $11.15 and its two-hundred day moving average is $10.77. The stock has a market cap of $47.28 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.12 and a beta of 0.53.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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Earnings History and Estimates for Infosys (NYSE:INFY)

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