$3.07 Billion in Sales Expected for Infosys Ltd (INFY) This Quarter

Equities analysts predict that Infosys Ltd (NYSE:INFY) will report $3.07 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Infosys’ earnings. The highest sales estimate is $3.10 billion and the lowest is $3.02 billion. Infosys posted sales of $2.83 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The business is expected to announce its next quarterly earnings report on Friday, July 12th.

On average, analysts expect that Infosys will report full year sales of $12.78 billion for the current fiscal year, with estimates ranging from $12.73 billion to $12.98 billion. For the next year, analysts expect that the company will post sales of $13.82 billion, with estimates ranging from $13.66 billion to $14.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Infosys.

Infosys (NYSE:INFY) last released its quarterly earnings results on Friday, April 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Infosys had a net margin of 18.62% and a return on equity of 25.41%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $0.13 EPS.

Several research analysts have issued reports on INFY shares. Deutsche Bank lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Monday, April 15th. Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Friday, January 4th. Morgan Stanley upgraded shares of Infosys from an “equal weight” rating to an “overweight” rating in a report on Monday, January 14th. Wells Fargo & Co set a $11.00 price target on shares of Infosys and gave the stock a “hold” rating in a report on Friday, January 11th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $10.00 price target on shares of Infosys in a report on Friday, January 11th. Two investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $11.26.

Several hedge funds have recently made changes to their positions in INFY. Bank of New York Mellon Corp grew its position in shares of Infosys by 1,119,378.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 34,065,719 shares of the technology company’s stock worth $346,449,000 after buying an additional 34,062,676 shares during the period. Standard Life Aberdeen plc grew its position in Infosys by 107.0% in the 3rd quarter. Standard Life Aberdeen plc now owns 3,376,922 shares of the technology company’s stock valued at $34,343,000 after purchasing an additional 1,745,380 shares during the period. LPL Financial LLC grew its position in Infosys by 230.2% in the 3rd quarter. LPL Financial LLC now owns 129,762 shares of the technology company’s stock valued at $1,320,000 after purchasing an additional 90,462 shares during the period. Verition Fund Management LLC acquired a new stake in Infosys in the 3rd quarter valued at $656,000. Finally, Putnam Investments LLC grew its position in Infosys by 444.4% in the 3rd quarter. Putnam Investments LLC now owns 228,112 shares of the technology company’s stock valued at $2,320,000 after purchasing an additional 186,213 shares during the period. 17.81% of the stock is owned by institutional investors.

Infosys stock opened at $10.39 on Monday. Infosys has a 52-week low of $8.45 and a 52-week high of $11.38. The company has a market cap of $45.16 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.99 and a beta of 0.54.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

Read More: Price to Earnings Ratio (PE)

Get a free copy of the Zacks research report on Infosys (INFY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Infosys (NYSE:INFY)

Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.