Wipro (NYSE:WIT) Announces Earnings Results, Hits Expectations

Wipro (NYSE:WIT) announced its earnings results on Wednesday. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04, Zacks reports. Wipro had a net margin of 13.96% and a return on equity of 15.46%.

Wipro Stock Down 1.2 %

NYSE:WIT opened at $2.82 on Wednesday. Wipro has a twelve month low of $2.55 and a twelve month high of $3.79. The firm has a market capitalization of $29.44 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $3.20 and its two-hundred day moving average price is $4.59.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Jefferies Financial Group lowered Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wipro presently has a consensus rating of “Hold”.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.