Wipro (NYSE:WIT) Releases Earnings Results, Misses Expectations By $0.01 EPS

Wipro (NYSE:WIT) posted its quarterly earnings data on Tuesday. The information technology services provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01), MarketWatch Earnings reports. Wipro had a net margin of 17.33% and a return on equity of 21.07%. During the same quarter in the previous year, the firm posted $0.07 EPS.

Shares of Wipro stock opened at $8.70 on Thursday. Wipro has a one year low of $6.09 and a one year high of $9.96. The company has a market cap of $47.67 billion, a PE ratio of 30.00, a P/E/G ratio of 3.61 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.30 and a current ratio of 2.30. The business has a 50-day simple moving average of $9.05 and a 200-day simple moving average of $8.91.

A number of analysts have recently commented on WIT shares. Zacks Investment Research upgraded shares of Wipro from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, January 4th. Morgan Stanley raised shares of Wipro from an “underweight” rating to an “equal weight” rating in a research report on Thursday, October 14th. Finally, JPMorgan Chase & Co. raised shares of Wipro from an “underweight” rating to a “neutral” rating in a research report on Thursday, September 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.62.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Wipro by 5.4% during the third quarter. Bank of New York Mellon Corp now owns 53,121 shares of the information technology services provider’s stock worth $468,000 after buying an additional 2,743 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Wipro by 6.8% in the third quarter. Dimensional Fund Advisors LP now owns 82,362 shares of the information technology services provider’s stock valued at $727,000 after purchasing an additional 5,209 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Wipro by 26.0% in the second quarter. Wells Fargo & Company MN now owns 188,787 shares of the information technology services provider’s stock valued at $1,475,000 after purchasing an additional 38,988 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Wipro by 14.7% in the second quarter. Morgan Stanley now owns 2,996,833 shares of the information technology services provider’s stock valued at $23,406,000 after purchasing an additional 383,499 shares in the last quarter. 2.30% of the stock is owned by institutional investors and hedge funds.

Wipro Company Profile

Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products segments. The Information Technology Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development, and hardware and software design to enterprises worldwide.

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Earnings History for Wipro (NYSE:WIT)

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