$2.21 Billion in Sales Expected for Wipro Limited (NYSE:WIT) This Quarter

Wall Street analysts expect Wipro Limited (NYSE:WIT) to report $2.21 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Wipro’s earnings. The lowest sales estimate is $2.19 billion and the highest is $2.23 billion. Wipro reported sales of $2.16 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The company is expected to issue its next earnings report on Friday, January 17th.

On average, analysts expect that Wipro will report full-year sales of $8.67 billion for the current year, with estimates ranging from $8.49 billion to $8.78 billion. For the next fiscal year, analysts expect that the business will post sales of $9.06 billion, with estimates ranging from $8.77 billion to $9.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Wipro.

Wipro (NYSE:WIT) last released its quarterly earnings results on Tuesday, October 15th. The information technology services provider reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Wipro had a net margin of 16.58% and a return on equity of 17.79%.

A number of research analysts have issued reports on the stock. Goldman Sachs Group lowered shares of Wipro from a “neutral” rating to a “sell” rating in a research report on Wednesday, November 27th. Zacks Investment Research upgraded shares of Wipro from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Thursday, November 21st. TheStreet lowered shares of Wipro from a “b” rating to a “c+” rating in a research report on Tuesday, September 3rd. Credit Suisse Group upgraded shares of Wipro from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 15th. Finally, ValuEngine upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Wipro presently has a consensus rating of “Hold” and an average price target of $4.31.

Shares of NYSE:WIT traded up $0.07 on Friday, reaching $3.68. 538,877 shares of the company’s stock were exchanged, compared to its average volume of 1,380,716. The company has a fifty day moving average of $3.81 and a 200-day moving average of $3.99. Wipro has a twelve month low of $3.51 and a twelve month high of $4.63. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.41 and a beta of 0.47. The company has a current ratio of 2.40, a quick ratio of 2.38 and a debt-to-equity ratio of 0.04.

Several hedge funds and other institutional investors have recently bought and sold shares of WIT. Amundi Pioneer Asset Management Inc. boosted its position in shares of Wipro by 33.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 139,918 shares of the information technology services provider’s stock worth $556,000 after acquiring an additional 34,978 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Wipro by 6.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 63,571 shares of the information technology services provider’s stock worth $275,000 after acquiring an additional 4,120 shares in the last quarter. Segantii Capital Management Ltd boosted its position in shares of Wipro by 3.9% during the 2nd quarter. Segantii Capital Management Ltd now owns 7,996,749 shares of the information technology services provider’s stock worth $34,239,000 after acquiring an additional 302,759 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Wipro by 1.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 181,983 shares of the information technology services provider’s stock worth $788,000 after acquiring an additional 2,569 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Wipro during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 2.14% of the company’s stock.

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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