$2.16 Billion in Sales Expected for Wipro Limited (NYSE:WIT) This Quarter

Wall Street analysts expect that Wipro Limited (NYSE:WIT) will report $2.16 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Wipro’s earnings. The lowest sales estimate is $2.15 billion and the highest is $2.18 billion. Wipro posted sales of $2.01 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Wipro will report full year sales of $8.84 billion for the current year, with estimates ranging from $8.82 billion to $8.86 billion. For the next fiscal year, analysts expect that the company will report sales of $9.32 billion, with estimates ranging from $9.30 billion to $9.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Wipro.

Wipro (NYSE:WIT) last posted its earnings results on Wednesday, July 17th. The information technology services provider reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $139.80 million during the quarter, compared to the consensus estimate of $147.23 billion. Wipro had a return on equity of 17.02% and a net margin of 15.65%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year.

Several equities analysts recently commented on WIT shares. Zacks Investment Research downgraded Zafgen from a “buy” rating to a “hold” rating in a research report on Saturday. Macquarie downgraded Wipro from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 16th. Wedbush reiterated an “underperform” rating on shares of Wipro in a research report on Wednesday. Finally, Nomura downgraded Wipro from a “neutral” rating to a “reduce” rating in a research report on Thursday, April 18th. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.76.

Shares of Wipro stock traded down $0.09 during midday trading on Monday, hitting $4.17. 1,813,076 shares of the company were exchanged, compared to its average volume of 2,300,536. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.65 and a current ratio of 2.67. The company has a market capitalization of $25.57 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.48 and a beta of 0.49. Wipro has a 52 week low of $3.62 and a 52 week high of $4.63. The firm has a 50 day simple moving average of $4.36.

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC raised its position in Wipro by 50.1% in the 1st quarter. Lindbrook Capital LLC now owns 7,064 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 2,358 shares during the last quarter. Private Advisor Group LLC bought a new position in Wipro in the 4th quarter valued at $57,000. Mercer Global Advisors Inc. ADV bought a new position in Wipro in the 1st quarter valued at $60,000. Stevens Capital Management LP bought a new position in Wipro in the 1st quarter valued at $56,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Wipro by 33.3% during the first quarter. Janney Montgomery Scott LLC now owns 14,696 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 3,671 shares during the last quarter. Hedge funds and other institutional investors own 2.23% of the company’s stock.

Wipro Company Profile

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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