Wipro Limited (NYSE:WIT) Given Average Recommendation of “Hold” by Brokerages

Wipro Limited (NYSE:WITGet Rating) has received a consensus rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.79.

Separately, StockNews.com initiated coverage on shares of Wipro in a research note on Thursday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Wipro

Institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. acquired a new stake in Wipro during the first quarter worth $26,000. Ronald Blue Trust Inc. raised its holdings in shares of Wipro by 2,263.1% in the third quarter. Ronald Blue Trust Inc. now owns 7,562 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 7,242 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Wipro in the third quarter valued at about $49,000. Enterprise Financial Services Corp bought a new position in shares of Wipro in the fourth quarter valued at about $49,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of Wipro in the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 2.12% of the company’s stock.

Wipro Trading Up 1.5 %

NYSE:WIT opened at $4.61 on Friday. Wipro has a 12 month low of $4.38 and a 12 month high of $8.07. The firm has a market cap of $25.25 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 2.03 and a beta of 0.86. The company has a quick ratio of 2.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $4.83 and its 200-day moving average is $4.83.

Wipro (NYSE:WITGet Rating) last released its quarterly earnings results on Friday, January 13th. The information technology services provider reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.85 billion. Wipro had a net margin of 12.94% and a return on equity of 16.19%. Equities analysts anticipate that Wipro will post 0.25 EPS for the current year.

Wipro Company Profile

(Get Rating)

Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the following segments: Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products. 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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Analyst Recommendations for Wipro (NYSE:WIT)

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