Wipro (WIT) to Release Quarterly Earnings on Friday

Wipro (NYSE:WIT) will issue its quarterly earnings data before the market opens on Friday, April 19th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Wipro Stock Performance

Shares of NYSE:WIT opened at $5.27 on Wednesday. Wipro has a twelve month low of $4.32 and a twelve month high of $6.45. The firm has a market cap of $27.47 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. The business has a fifty day moving average of $5.95 and a 200-day moving average of $5.40.

Hedge Funds Weigh In On Wipro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. bought a new position in Wipro during the first quarter worth about $26,000. Enterprise Financial Services Corp bought a new position in Wipro during the fourth quarter worth about $49,000. NewEdge Advisors LLC bought a new position in Wipro during the second quarter worth about $59,000. Susquehanna International Group LLP bought a new position in Wipro during the fourth quarter worth about $56,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Wipro during the 1st quarter valued at about $96,000. Institutional investors own 2.36% of the company’s stock.

Wall Street Analysts Forecast Growth

WIT has been the subject of a number of research reports. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Tuesday. BNP Paribas initiated coverage on Wipro in a research report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective for the company. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, Wedbush lifted their price objective on Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.05.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through 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 and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.