Equities analysts expect that Wipro Limited (NYSE:WIT) will report $2.11 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Wipro’s earnings, with estimates ranging from $2.06 billion to $2.16 billion. Wipro reported sales of $2.04 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The firm is expected to report its next quarterly earnings results on Friday, July 19th.

On average, 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 post 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 research firms that cover Wipro.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Tuesday, April 16th. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Wipro had a return on equity of 17.24% and a net margin of 15.39%. The business had revenue of $150.06 billion for the quarter, compared to the consensus estimate of $150.97 billion. During the same quarter in the prior year, the business earned $9.08 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis.

WIT has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Wipro from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. Credit Suisse Group cut shares of Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 22nd. TheStreet upgraded shares of Wipro from a “c” rating to a “b-” rating in a research note on Friday, January 18th. Wedbush cut their target price on shares of Wipro from $4.25 to $3.75 and set an “underperform” rating for the company in a research note on Thursday, March 21st. Finally, Macquarie cut shares of Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 16th. Five analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.76.

Shares of NYSE:WIT traded down $0.02 during trading on Tuesday, reaching $4.38. The stock had a trading volume of 1,822,723 shares, compared to its average volume of 1,199,084. Wipro has a 52 week low of $3.38 and a 52 week high of $4.60. The company has a current ratio of 2.79, a quick ratio of 2.77 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $27.01 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.56 and a beta of 0.54.

Several large investors have recently bought and sold shares of WIT. First Command Financial Services Inc. acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $28,000. First Command Bank acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC increased its holdings in shares of Wipro by 50.1% in the first 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 in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Wipro in the first quarter valued at approximately $56,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $57,000. Institutional investors own 1.75% of the company’s stock.

About Wipro

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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