Infosys Ltd (NYSE:INFY) Expected to Announce Quarterly Sales of $3.21 Billion

Wall Street analysts expect Infosys Ltd (NYSE:INFY) to report sales of $3.21 billion for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Infosys’ earnings, with estimates ranging from $3.16 billion to $3.29 billion. Infosys posted sales of $2.92 billion during the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The company is scheduled to report its next earnings report on Tuesday, October 15th.

On average, analysts expect that Infosys will report full year sales of $12.92 billion for the current fiscal year, with estimates ranging from $12.80 billion to $13.20 billion. For the next financial year, analysts anticipate that the firm will post sales of $13.98 billion, with estimates ranging from $13.71 billion to $14.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Infosys.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Friday, July 12th. The technology company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $218.03 billion during the quarter, compared to analyst estimates of $216.51 billion. Infosys had a return on equity of 25.55% and a net margin of 18.26%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share.

A number of research analysts have commented on INFY shares. Nomura upgraded Infosys from a “reduce” rating to a “neutral” rating in a research note on Monday, July 15th. Wells Fargo & Co set a $12.00 price target on Infosys and gave the stock a “hold” rating in a research note on Friday, May 31st. Zacks Investment Research upgraded Infosys from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. ValuEngine cut Infosys from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets set a $13.00 price target on Infosys and gave the stock a “hold” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $10.96.

Infosys stock traded up $0.14 during mid-day trading on Thursday, hitting $11.07. The company’s stock had a trading volume of 9,420,600 shares, compared to its average volume of 9,510,282. The firm has a market capitalization of $46.69 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 2.09 and a beta of 0.53. Infosys has a 1 year low of $8.85 and a 1 year high of $11.64. The stock’s fifty day moving average is $11.11 and its two-hundred day moving average is $10.77.

A number of large investors have recently added to or reduced their stakes in the business. Next Capital Management LLC acquired a new stake in shares of Infosys in the first quarter valued at $26,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Infosys in the first quarter valued at $27,000. NEXT Financial Group Inc raised its stake in shares of Infosys by 85.7% in the second quarter. NEXT Financial Group Inc now owns 2,492 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,150 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Infosys in the first quarter valued at $31,000. Finally, American Beacon Advisors Inc. raised its stake in shares of Infosys by 56.2% in the first quarter. American Beacon Advisors Inc. now owns 3,139 shares of the technology company’s stock valued at $34,000 after acquiring an additional 1,129 shares in the last quarter. Institutional investors own 17.77% of the company’s stock.

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.

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