Analysts Set Expectations for Wipro Limited’s Q1 2019 Earnings (WIT)

Wipro Limited (NYSE:WIT) – Wedbush issued their Q1 2019 EPS estimates for Wipro Limited in a research report issued on Tuesday. Wedbush analyst M. Katri anticipates that the information technology services provider will earn $0.06 per share for the quarter. Wedbush also issued estimates for Wipro Limited’s Q2 2019 earnings at $0.06 EPS, Q3 2019 earnings at $0.06 EPS and Q4 2019 earnings at $0.06 EPS.

Wipro Limited (NYSE:WIT) last issued its earnings results on Tuesday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Wipro Limited had a return on equity of 16.47% and a net margin of 15.77%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.17 billion.

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Other analysts have also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) cut shares of Wipro Limited from a “neutral” rating to a “sell” rating in a research note on Sunday, September 17th. BNP Paribas cut shares of Wipro Limited from a “hold” rating to a “reduce” rating in a research note on Thursday, September 14th. Zacks Investment Research cut shares of Wipro Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. BidaskClub cut shares of Wipro Limited from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Bank of America Corporation upped their target price on shares of Wipro Limited from $250.00 to $277.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $277.00.

Shares of Wipro Limited (NYSE:WIT) traded down 0.651% during trading on Wednesday, reaching $5.345. The company’s stock had a trading volume of 1,361,786 shares. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 19.507 and a beta of 0.83. The company’s 50-day moving average price is $5.69 and its 200 day moving average price is $5.47. Wipro Limited has a 1-year low of $4.50 and a 1-year high of $6.40.

A number of institutional investors have recently modified their holdings of the business. AIMZ Investment Advisors LLC grew its stake in Wipro Limited by 98.0% during the second quarter. AIMZ Investment Advisors LLC now owns 141,853 shares of the information technology services provider’s stock worth $738,000 after buying an additional 70,226 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Wipro Limited by 100.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 152,200 shares of the information technology services provider’s stock worth $781,000 after buying an additional 76,100 shares during the last quarter. State Street Corp grew its stake in Wipro Limited by 131.7% during the second quarter. State Street Corp now owns 5,965,542 shares of the information technology services provider’s stock worth $31,022,000 after buying an additional 3,390,392 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Wipro Limited by 83.8% during the second quarter. Goldman Sachs Group Inc. now owns 401,902 shares of the information technology services provider’s stock worth $2,090,000 after buying an additional 183,180 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in Wipro Limited during the second quarter worth about $261,000. 2.48% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Limited announced that its Board of Directors has authorized a stock buyback program on Thursday, July 20th that permits the company to buyback $1.70 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 6.1% of its shares through a tender offer. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wipro Limited Company Profile

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business 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.

Earnings History and Estimates for Wipro Limited (NYSE:WIT)

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