Wipro Limited (NYSE:WIT – Get Rating) has received an average recommendation of "Hold" from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.79.
WIT has been the subject of a number of research reports. Credit Suisse Group cut shares of Wipro from a "neutral" rating to an "underperform" rating in a research note on Thursday, October 13th. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Thursday, January 19th.
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Shares of NYSE:WIT opened at $4.92 on Thursday. The company has a market capitalization of $26.93 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.24 and a quick ratio of 2.23. The business has a fifty day moving average price of $4.81 and a two-hundred day moving average price of $4.93. Wipro has a 1 year low of $4.38 and a 1 year high of $8.07.
Wipro (NYSE:WIT – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.85 billion. Wipro had a return on equity of 16.19% and a net margin of 12.94%. Analysts forecast that Wipro will post 0.25 earnings per share for the current year.Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its position in Wipro by 24.3% during the second quarter. Lindbrook Capital LLC now owns 9,943 shares of the information technology services provider's stock valued at $53,000 after purchasing an additional 1,943 shares during the period. Signaturefd LLC boosted its holdings in shares of Wipro by 1.4% in the fourth quarter. Signaturefd LLC now owns 152,419 shares of the information technology services provider's stock valued at $710,000 after purchasing an additional 2,172 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Wipro by 4.9% during the first quarter. PNC Financial Services Group Inc. now owns 47,432 shares of the information technology services provider's stock valued at $366,000 after buying an additional 2,234 shares during the period. Mariner LLC increased its position in Wipro by 8.3% during the 1st quarter. Mariner LLC now owns 38,631 shares of the information technology services provider's stock valued at $298,000 after purchasing an additional 2,970 shares during the period. Finally, Ballentine Partners LLC raised its stake in Wipro by 10.5% in the fourth quarter. Ballentine Partners LLC now owns 31,326 shares of the information technology services provider's stock worth $146,000 after buying an additional 2,987 shares in the last quarter. Institutional investors own 2.12% of the company's stock.
About Wipro
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Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the following segments: Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products. 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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