Wall Street brokerages forecast that Wipro Limited (NYSE:WIT) will announce $0.06 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Wipro’s earnings. Wipro reported earnings of $0.05 per share during the same quarter last year, which suggests a positive year over year growth rate of 20%. The firm is expected to report its next quarterly earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Wipro will report full-year earnings of $0.24 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.25. For the next financial year, analysts forecast that the business will post earnings of $0.25 per share, with EPS estimates ranging from $0.24 to $0.26. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Wipro.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Wednesday, July 17th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. Wipro had a net margin of 15.65% and a return on equity of 17.02%. The business had revenue of $139.80 million for the quarter, compared to analyst estimates of $147.23 billion. The company’s revenue was down 5.0% compared to the same quarter last year.

WIT has been the topic of a number of recent analyst reports. Wedbush restated an “underperform” rating on shares of Wipro in a research note on Wednesday. Macquarie lowered shares of Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded shares of Zafgen from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Nomura downgraded shares of Wipro from a “neutral” rating to a “reduce” rating in a report on Thursday, April 18th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Wipro currently has an average rating of “Hold” and an average price target of $4.76.

Wipro stock traded down $0.09 during mid-day trading on Friday, reaching $4.17. 1,813,076 shares of the company traded hands, compared to its average volume of 2,300,536. The company has a quick ratio of 2.65, a current ratio of 2.67 and a debt-to-equity ratio of 0.05. Wipro has a fifty-two week low of $3.62 and a fifty-two week high of $4.63. The firm has a market capitalization of $25.57 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 1.48 and a beta of 0.49. The company has a fifty day moving average price of $4.36.

Several hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new stake in Wipro during the fourth quarter worth approximately $57,000. Bank of New York Mellon Corp grew its position in Wipro by 125.7% during the fourth quarter. Bank of New York Mellon Corp now owns 27,798 shares of the information technology services provider’s stock worth $143,000 after buying an additional 15,479 shares in the last quarter. Raymond James & Associates acquired a new stake in Wipro during the fourth quarter worth approximately $187,000. Citigroup Inc. grew its position in Wipro by 248.9% during the fourth quarter. Citigroup Inc. now owns 27,448 shares of the information technology services provider’s stock worth $141,000 after buying an additional 19,580 shares in the last quarter. Finally, Prudential PLC grew its position in Wipro by 27.2% during the fourth quarter. Prudential PLC now owns 430,600 shares of the information technology services provider’s stock worth $2,209,000 after buying an additional 92,000 shares in the last quarter. 2.23% of the stock is currently owned by institutional investors and hedge funds.

About Wipro

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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