Wipro Ltd. (NYSE:WIT) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the company. Four equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $9.75.
Several equities analysts have issued reports on WIT shares. Zacks Investment Research lowered Wipro from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. HSBC lowered Wipro from a “hold” rating to a “reduce” rating in a research note on Tuesday, August 9th. Wedbush started coverage on Wipro in a research note on Thursday, September 8th. They issued an “underperform” rating and a $8.50 target price on the stock. Finally, TheStreet lowered Wipro from a “buy” rating to a “hold” rating in a research note on Friday, September 16th.
Several large investors have recently modified their holdings of WIT. Bank of Montreal Can acquired a new stake in shares of Wipro during the second quarter worth $7,563,000. Fisher Asset Management LLC raised its stake in shares of Wipro by 48.4% in the second quarter. Fisher Asset Management LLC now owns 1,854,321 shares of the company’s stock worth $23,012,000 after buying an additional 604,706 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Wipro by 9.7% in the second quarter. BNP Paribas Arbitrage SA now owns 310,371 shares of the company’s stock worth $3,836,000 after buying an additional 27,500 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Wipro by 4.9% in the first quarter. Royal Bank of Canada now owns 1,048,561 shares of the company’s stock worth $13,191,000 after buying an additional 48,803 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Wipro by 17.8% in the first quarter. Panagora Asset Management Inc. now owns 732,441 shares of the company’s stock worth $9,214,000 after buying an additional 110,513 shares during the last quarter. Institutional investors and hedge funds own 2.37% of the company’s stock.
Wipro (NYSE:WIT) traded down 1.41% during trading on Friday, reaching $9.77. 493,567 shares of the company’s stock traded hands. The company has a 50 day moving average of $9.92 and a 200 day moving average of $11.45. Wipro has a one year low of $9.63 and a one year high of $13.08. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 18.33 and a beta of 1.06.
Wipro (NYSE:WIT) last posted its earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.02. Wipro had a net margin of 16.64% and a return on equity of 18.90%. The company earned $2 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Equities research analysts predict that Wipro will post $0.55 EPS for the current year.
Wipro Company Profile
Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.
Receive News & Ratings for Wipro Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.