Wipro (NYSE:WIT) Releases Quarterly Earnings Results

Wipro (NYSE:WIT) announced its quarterly earnings results on Tuesday. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01, MarketWatch Earnings reports. Wipro had a return on equity of 17.14% and a net margin of 15.72%.

Shares of WIT stock traded up $0.08 on Thursday, hitting $6.53. 2,716,522 shares of the stock were exchanged, compared to its average volume of 2,704,858. The company has a current ratio of 2.58, a quick ratio of 2.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $37.18 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The business has a 50-day moving average of $5.54 and a 200 day moving average of $4.72. Wipro has a fifty-two week low of $2.52 and a fifty-two week high of $6.72.

WIT has been the subject of several recent analyst reports. Investec downgraded Wipro from a “buy” rating to a “hold” rating in a report on Wednesday, October 14th. The Goldman Sachs Group initiated coverage on Wipro in a report on Monday, December 21st. They issued a “sell” rating for the company. Finally, Zacks Investment Research downgraded Wipro from a “buy” rating to a “hold” rating in a report on Friday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.50.

About Wipro

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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Earnings History for Wipro (NYSE:WIT)

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