Wipro (WIT) Getting Somewhat Positive News Coverage, Report Finds
News headlines about Wipro (NYSE:WIT) have trended somewhat positive on Tuesday, according to Accern Sentiment. Accern rates the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Wipro earned a media sentiment score of 0.24 on Accern’s scale. Accern also assigned headlines about the information technology services provider an impact score of 45.8870633810943 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Shares of Wipro (NYSE WIT) traded up $0.06 during mid-day trading on Tuesday, reaching $5.18. The company’s stock had a trading volume of 1,894,061 shares, compared to its average volume of 1,396,820. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.52 and a current ratio of 2.53. Wipro has a 12 month low of $4.50 and a 12 month high of $6.40. The firm has a market capitalization of $25,038.27, a P/E ratio of 18.73, a P/E/G ratio of 2.58 and a beta of 0.74.
Wipro (NYSE:WIT) last released its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Wipro had a return on equity of 16.14% and a net margin of 15.77%. analysts anticipate that Wipro will post 0.25 earnings per share for the current fiscal year.
Several analysts have recently weighed in on WIT shares. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Friday, October 20th. BidaskClub downgraded Wipro from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. BNP Paribas downgraded Wipro from a “hold” rating to a “reduce” rating in a research note on Thursday, September 14th. Finally, Goldman Sachs Group downgraded Wipro from a “neutral” rating to a “sell” rating in a research note on Sunday, September 17th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $141.50.
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Wipro 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.
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