Wipro (WIT) Expected to Announce Earnings on Friday

Wipro (NYSE:WIT) will likely be announcing its earnings results before the market opens on Friday, January 17th. Analysts expect the company to announce earnings of $0.04 per share and revenue of $222,346,225.08 billion for the quarter.

Wipro (NYSE:WIT) last issued its earnings results on Thursday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Wipro had a return on equity of 14.98% and a net margin of 13.23%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.66 billion. On average, analysts expect Wipro to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Wipro Stock Performance

Wipro stock traded up $0.04 during mid-day trading on Wednesday, hitting $3.44. The company had a trading volume of 4,315,734 shares, compared to its average volume of 3,633,858. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $35.95 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 4.92 and a beta of 0.91. The company’s fifty day moving average is $5.27 and its 200-day moving average is $5.96. Wipro has a 12-month low of $2.55 and a 12-month high of $3.75.

Analysts Set New Price Targets

A number of research analysts have weighed in on WIT shares. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, StockNews.com cut Wipro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wipro presently has a consensus rating of “Hold” and a consensus target price of $5.60.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.