Wall Street analysts expect Infosys Limited (NYSE:INFY) to report $3.57 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Infosys' earnings, with the lowest sales estimate coming in at $3.42 billion and the highest estimate coming in at $3.64 billion. Infosys posted sales of $3.20 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.6%. The business is scheduled to report its next quarterly earnings report on Monday, April 19th.
According to Zacks, analysts expect that Infosys will report full year sales of $13.57 billion for the current fiscal year, with estimates ranging from $13.37 billion to $13.89 billion. For the next financial year, analysts anticipate that the business will report sales of $15.24 billion, with estimates ranging from $14.44 billion to $16.14 billion. Zacks Investment Research's sales averages are an average based on a survey of research firms that cover Infosys.
Infosys (NYSE:INFY) last issued its quarterly earnings data on Tuesday, January 12th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.15 by $0.02. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.38 billion. Infosys had a return on equity of 27.65% and a net margin of 19.06%.
Several research firms have weighed in on INFY. Investec cut shares of Infosys from a "buy" rating to a "hold" rating in a research report on Thursday, January 14th. The Goldman Sachs Group began coverage on shares of Infosys in a report on Monday, December 21st. They issued a "conviction-buy" rating for the company. Sanford C. Bernstein raised Infosys from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $20.33 to $21.80 in a report on Monday, March 29th. Finally, Zacks Investment Research cut Infosys from a "buy" rating to a "hold" rating and set a $19.00 target price for the company. in a research note on Tuesday, January 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Infosys has an average rating of "Buy" and an average price target of $15.22.
Several hedge funds have recently bought and sold shares of the company. Arkadios Wealth Advisors acquired a new stake in shares of Infosys during the fourth quarter worth $26,000. Tompkins Financial Corp acquired a new position in shares of Infosys during the 4th quarter worth about $28,000. RWM Asset Management LLC bought a new stake in shares of Infosys in the 4th quarter valued at about $36,000. Safeguard Investment Advisory Group LLC acquired a new stake in shares of Infosys in the 4th quarter valued at approximately $36,000. Finally, Bessemer Group Inc. bought a new position in Infosys during the 4th quarter worth approximately $37,000. 16.28% of the stock is currently owned by institutional investors.
Infosys stock opened at $19.21 on Thursday. The stock has a 50-day simple moving average of $18.41 and a 200 day simple moving average of $16.58. The stock has a market capitalization of $81.50 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 3.09 and a beta of 0.86. Infosys has a 12-month low of $8.09 and a 12-month high of $19.41.
Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.
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