Wipro (NYSE:WIT) Releases Earnings Results, Beats Estimates By $0.01 EPS

Wipro (NYSE:WIT) released its earnings results on Tuesday. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%.

NYSE WIT traded up $0.08 during trading on Thursday, hitting $6.53. The company’s stock had a trading volume of 2,716,522 shares, compared to its average volume of 2,704,858. The company has a quick ratio of 2.57, a current ratio of 2.58 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $5.54 and a 200 day moving average price of $4.72. The firm has a market cap 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. Wipro has a 52 week low of $2.52 and a 52 week high of $6.72.

A number of brokerages have commented on WIT. The Goldman Sachs Group began coverage on Wipro in a research report on Monday, December 21st. They set a “sell” rating for the company. Investec lowered Wipro from a “buy” rating to a “hold” rating in a report on Wednesday, October 14th. Finally, Zacks Investment Research downgraded Wipro from a “buy” rating to a “hold” rating in a research note on Friday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Wipro presently has a consensus rating of “Hold” and an average 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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