Jefferies Financial Group Analysts Cut Earnings Estimates for Infosys Limited (NYSE:INFY)

Infosys Limited (NYSE:INFYGet Rating) – Stock analysts at Jefferies Financial Group cut their FY2023 earnings per share estimates for Infosys in a report released on Sunday, June 5th. Jefferies Financial Group analyst A. Agarwal now forecasts that the technology company will earn $0.75 per share for the year, down from their previous estimate of $0.77. Jefferies Financial Group also issued estimates for Infosys’ FY2024 earnings at $0.86 EPS and FY2025 earnings at $0.97 EPS.

Infosys (NYSE:INFYGet Rating) last issued its quarterly earnings data on Wednesday, April 13th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Infosys had a net margin of 18.17% and a return on equity of 30.72%. During the same quarter in the previous year, the business earned $0.16 EPS.

Several other analysts also recently issued reports on INFY. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday, May 31st. Macquarie began coverage on shares of Infosys in a research note on Monday, April 11th. They issued an “outperform” rating for the company. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Bank of America downgraded shares of Infosys from a “buy” rating to a “neutral” rating and set a $24.50 price objective for the company. in a research note on Wednesday, February 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of Infosys to $23.00 in a research note on Wednesday, April 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.75.

Shares of NYSE:INFY opened at $19.43 on Tuesday. Infosys has a 12 month low of $17.90 and a 12 month high of $26.39. The company has a 50-day moving average price of $20.67 and a 200 day moving average price of $22.60. The company has a market cap of $81.43 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.51 and a beta of 1.03.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hussman Strategic Advisors Inc. grew its holdings in shares of Infosys by 0.6% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 78,000 shares of the technology company’s stock valued at $1,974,000 after buying an additional 500 shares during the last quarter. Buckingham Capital Management Inc. grew its holdings in shares of Infosys by 1.5% during the first quarter. Buckingham Capital Management Inc. now owns 40,768 shares of the technology company’s stock valued at $1,015,000 after buying an additional 596 shares during the last quarter. Stokes Family Office LLC lifted its position in Infosys by 2.6% during the third quarter. Stokes Family Office LLC now owns 23,934 shares of the technology company’s stock valued at $533,000 after purchasing an additional 599 shares during the period. Professional Financial Advisors LLC lifted its position in Infosys by 160.1% during the first quarter. Professional Financial Advisors LLC now owns 1,056 shares of the technology company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Infosys by 4.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock valued at $417,000 after purchasing an additional 652 shares during the period. 15.42% of the stock is currently owned by institutional investors and hedge funds.

The company also recently declared a dividend, which was paid on Wednesday, June 1st. Shareholders of record on Wednesday, June 1st were issued a $0.177 dividend. This is a positive change from Infosys’s previous dividend of $0.10. The ex-dividend date was Tuesday, May 31st. Infosys’s payout ratio is currently 50.00%.

About Infosys (Get Rating)

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, support and integration, and business process management services.

See Also

Earnings History and Estimates for Infosys (NYSE:INFY)

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