Wipro Limited (NYSE:WIT) Receives Average Rating of "Reduce" from Analysts

Shares of Wipro Limited (NYSE:WIT - Get Free Report) have earned a consensus recommendation of "Reduce" from the five brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company.

A number of analysts recently commented on WIT shares. Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Morgan Stanley raised Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Finally, Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th.

Wipro Stock Down 0.3%

Shares of NYSE:WIT opened at $2.91 on Friday. The company has a market capitalization of $30.44 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 8.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.72 and a quick ratio of 2.71. The business's 50-day moving average is $2.96 and its 200-day moving average is $3.16. Wipro has a 1 year low of $2.63 and a 1 year high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last issued its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.97% and a net margin of 14.73%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $225.66 billion. Equities research analysts predict that Wipro will post 0.14 earnings per share for the current year.

Institutional Trading of Wipro

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Wipro during the fourth quarter valued at approximately $35,000. Hamilton Capital LLC purchased a new stake in shares of Wipro during the first quarter valued at approximately $32,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Wipro during the fourth quarter valued at approximately $37,000. Finally, CogentBlue Wealth Advisors LLC purchased a new stake in shares of Wipro during the first quarter valued at approximately $37,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.

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