Wipro (WIT) to Release Earnings on Friday

Wipro (NYSE:WIT) is expected to announce 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 posted its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Wipro had a net margin of 13.23% and a return on equity of 14.98%. The firm had revenue of $2.66 billion during 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 Up 1.2 %

NYSE WIT opened at $3.44 on Thursday. The company has a market cap of $35.95 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 4.92 and a beta of 0.91. Wipro has a 1-year low of $2.55 and a 1-year high of $3.75. 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 50 day moving average of $5.27 and a 200-day moving average of $5.96.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WIT shares. Investec cut Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wipro has an average 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.