Wipro Limited (NYSE:WIT) – Wedbush upped their Q1 2023 earnings estimates for Wipro in a note issued to investors on Wednesday, January 12th. Wedbush analyst M. Katri now anticipates that the information technology services provider will post earnings of $0.08 per share for the quarter, up from their prior forecast of $0.07. Wedbush also issued estimates for Wipro’s Q3 2023 earnings at $0.09 EPS, Q4 2023 earnings at $0.09 EPS and FY2023 earnings at $0.34 EPS.
Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Wipro from an “underweight” rating to a “neutral” rating in a report on Thursday, September 30th. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday. Finally, Morgan Stanley upgraded Wipro from an “underweight” rating to an “equal weight” rating in a report on Thursday, October 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.62.
Wipro (NYSE:WIT) last announced its earnings results on Tuesday, January 11th. The information technology services provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Wipro had a net margin of 16.25% and a return on equity of 20.50%. During the same period last year, the firm posted $0.07 EPS.
Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Financial Group LLC raised its position in shares of Wipro by 3.1% in the 3rd quarter. Marshall Financial Group LLC now owns 162,163 shares of the information technology services provider’s stock worth $1,432,000 after buying an additional 4,911 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Wipro by 27.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 507,671 shares of the information technology services provider’s stock worth $3,965,000 after buying an additional 108,330 shares during the period. Amundi purchased a new position in shares of Wipro in the 2nd quarter worth $4,939,000. Dimensional Fund Advisors LP raised its position in shares of Wipro by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 77,153 shares of the information technology services provider’s stock worth $603,000 after buying an additional 6,181 shares during the period. Finally, Atticus Wealth Management LLC purchased a new position in shares of Wipro in the 3rd quarter worth $40,000. 2.30% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed an annual dividend, which will be paid on Monday, January 24th. Stockholders of record on Monday, January 24th will be issued a dividend of $0.012 per share. This represents a dividend yield of 0.14%. The ex-dividend date is Friday, January 21st. Wipro’s dividend payout ratio (DPR) is 3.45%.
Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products segments. The Information Technology Services segment 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 to enterprises worldwide.
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