$2.78 Billion in Sales Expected for Infosys Limited (INFY) This Quarter
Brokerages predict that Infosys Limited (NYSE:INFY) will post $2.78 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Infosys Limited’s earnings, with the highest sales estimate coming in at $2.90 billion and the lowest estimate coming in at $2.74 billion. Infosys Limited reported sales of $2.59 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, October 24th.
According to Zacks, analysts expect that Infosys Limited will report full-year sales of $2.78 billion for the current year, with estimates ranging from $10.93 billion to $11.05 billion. For the next fiscal year, analysts expect that the business will post sales of $11.83 billion per share, with estimates ranging from $11.68 billion to $12.05 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Infosys Limited.
INFY has been the subject of a number of analyst reports. Zacks Investment Research lowered Infosys Limited from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Deutsche Bank AG raised Infosys Limited from a “hold” rating to a “buy” rating in a research note on Monday, August 28th. Robert W. Baird reissued a “hold” rating and set a $16.00 price objective on shares of Infosys Limited in a research note on Sunday, September 3rd. J P Morgan Chase & Co lowered Infosys Limited from an “overweight” rating to a “neutral” rating in a research note on Monday, August 21st. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $15.00 price objective on shares of Infosys Limited in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.34.
Infosys Limited (NYSE INFY) opened at 14.58 on Thursday. The firm has a market cap of $33.33 billion, a P/E ratio of 15.36 and a beta of 0.74. Infosys Limited has a 12 month low of $13.42 and a 12 month high of $16.15. The stock has a 50 day moving average of $14.61 and a 200-day moving average of $15.02.
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A number of hedge funds have recently made changes to their positions in INFY. Yacktman Asset Management LP purchased a new stake in Infosys Limited in the second quarter worth $57,772,000. Sustainable Growth Advisers LP lifted its stake in Infosys Limited by 104.0% in the second quarter. Sustainable Growth Advisers LP now owns 5,361,595 shares of the technology company’s stock worth $80,531,000 after acquiring an additional 2,733,992 shares during the period. Seafarer Capital Partners LLC lifted its stake in Infosys Limited by 29.1% in the second quarter. Seafarer Capital Partners LLC now owns 9,655,000 shares of the technology company’s stock worth $145,018,000 after acquiring an additional 2,177,500 shares during the period. Renaissance Technologies LLC purchased a new stake in Infosys Limited in the second quarter worth $32,433,000. Finally, Genesis Asset Managers LLP lifted its stake in Infosys Limited by 15.6% in the second quarter. Genesis Asset Managers LLP now owns 15,885,726 shares of the technology company’s stock worth $238,604,000 after acquiring an additional 2,145,698 shares during the period. 19.88% of the stock is owned by institutional investors.
About Infosys Limited
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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