Wipro (NYSE:WIT) Posts Quarterly Earnings Results, Hits Estimates

Wipro (NYSE:WIT) issued its quarterly earnings results on Sunday. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06, MarketWatch Earnings reports. Wipro had a net margin of 15.88% and a return on equity of 17.66%.

WIT stock opened at $5.05 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.57 and a debt-to-equity ratio of 0.03. Wipro has a twelve month low of $2.52 and a twelve month high of $5.50. The company’s 50 day moving average is $4.72 and its two-hundred day moving average is $3.78. The stock has a market cap of $28.75 billion, a P/E ratio of 21.96, a PEG ratio of 2.21 and a beta of 0.63.

WIT has been the subject of a number of recent research reports. Investec downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Citigroup upgraded shares of Wipro from a “neutral” rating to a “buy” rating in a research note on Thursday, July 16th. TheStreet upgraded shares of Wipro from a “c+” rating to a “b” rating in a research note on Wednesday, July 29th. Finally, Zacks Investment Research downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $4.25.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. It operates in three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers 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, analytics, business process, research and development, and hardware and software design services to enterprises.

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Earnings History for Wipro (NYSE:WIT)

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