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, beating the consensus estimate of $0.06 by $0.01, MarketWatch Earnings reports. Wipro had a net margin of 15.72% and a return on equity of 17.14%.
WIT stock opened at $6.45 on Thursday. Wipro has a 52 week low of $2.52 and a 52 week high of $6.64. 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 company has a fifty day simple moving average of $5.54 and a two-hundred day simple moving average of $4.72. The firm has a market capitalization of $36.72 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60.
Several brokerages have recently issued reports on WIT. The Goldman Sachs Group started coverage on shares of Wipro in a research note on Monday, December 21st. They issued a “sell” rating on the stock. BidaskClub raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. Investec cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Finally, Zacks Investment Research cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Friday, January 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $5.50.
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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