Jefferies Financial Group Weighs in on Wipro Limited’s FY2020 Earnings (WIT)

Wipro Limited (NYSE:WIT) – Investment analysts at Jefferies Financial Group upped their FY2020 earnings per share estimates for shares of Wipro in a research report issued on Wednesday, September 12th. Jefferies Financial Group analyst A. Sen now expects that the information technology services provider will post earnings per share of $0.30 for the year, up from their previous estimate of $0.29. Jefferies Financial Group currently has a “Underperform” rating on the stock. Jefferies Financial Group also issued estimates for Wipro’s FY2021 earnings at $0.31 EPS.

A number of other equities analysts also recently commented on the company. ValuEngine upgraded Wipro from a “sell” rating to a “hold” rating in a report on Friday, August 17th. CLSA downgraded Wipro from an “underperform” rating to a “sell” rating in a report on Tuesday, July 24th. Nomura upgraded Wipro from a “reduce” rating to a “neutral” rating in a report on Tuesday, June 26th. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a report on Monday, August 6th. Finally, Credit Suisse Group upgraded Wipro from a “neutral” rating to an “outperform” rating in a report on Thursday, September 13th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.00.

Wipro stock opened at $5.26 on Monday. The stock has a market capitalization of $24.13 billion, a PE ratio of 20.27, a PEG ratio of 2.75 and a beta of 0.63. The company has a current ratio of 2.53, a quick ratio of 2.51 and a debt-to-equity ratio of 0.09. Wipro has a 12 month low of $4.50 and a 12 month high of $5.99.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, July 20th. The information technology services provider reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.10 billion. Wipro had a return on equity of 15.89% and a net margin of 14.66%.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new stake in shares of Wipro in the second quarter valued at about $275,000. CSat Investment Advisory L.P. acquired a new stake in shares of Wipro in the second quarter valued at about $1,690,000. Renaissance Technologies LLC grew its stake in shares of Wipro by 24.9% in the second quarter. Renaissance Technologies LLC now owns 627,300 shares of the information technology services provider’s stock valued at $3,005,000 after buying an additional 125,000 shares in the last quarter. BlackRock Inc. grew its stake in shares of Wipro by 9.0% in the second quarter. BlackRock Inc. now owns 22,038,581 shares of the information technology services provider’s stock valued at $105,564,000 after buying an additional 1,812,203 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Wipro by 165.9% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,605 shares of the information technology services provider’s stock valued at $127,000 after buying an additional 16,600 shares in the last quarter. Institutional investors own 2.37% of the company’s stock.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.

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Earnings History and Estimates for Wipro (NYSE:WIT)

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