Infosys Ltd (INFY) Expected to Announce Quarterly Sales of $2.94 Billion
Analysts expect Infosys Ltd (NYSE:INFY) to report sales of $2.94 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Infosys’ earnings, with estimates ranging from $2.92 billion to $2.97 billion. Infosys reported sales of $2.73 billion in the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Infosys will report full year sales of $11.77 billion for the current fiscal year, with estimates ranging from $11.65 billion to $11.92 billion. For the next financial year, analysts anticipate that the business will post sales of $12.64 billion per share, with estimates ranging from $12.57 billion to $12.84 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Infosys.
Infosys (NYSE:INFY) last announced its quarterly earnings results on Friday, July 13th. The technology company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. Infosys had a return on equity of 23.22% and a net margin of 22.30%.
Several hedge funds have recently bought and sold shares of INFY. Benjamin F. Edwards & Company Inc. grew its stake in shares of Infosys by 269.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,540 shares of the technology company’s stock valued at $108,000 after buying an additional 4,040 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of Infosys in the first quarter valued at about $118,000. Cynosure Advisors LLC acquired a new stake in shares of Infosys in the first quarter valued at about $179,000. Atria Investments LLC acquired a new stake in shares of Infosys in the first quarter valued at about $182,000. Finally, TIAA FSB acquired a new stake in shares of Infosys in the second quarter valued at about $203,000. Institutional investors and hedge funds own 19.81% of the company’s stock.
NYSE:INFY traded up $0.09 on Friday, hitting $21.08. 3,604,700 shares of the stock were exchanged, compared to its average volume of 5,990,009. The firm has a market capitalization of $45.20 billion, a PE ratio of 20.87, a P/E/G ratio of 1.99 and a beta of 0.47. Infosys has a fifty-two week low of $13.88 and a fifty-two week high of $21.14.
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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