Wipro (NYSE:WIT) Issues Quarterly Earnings Results

Wipro (NYSE:WIT - Get Free Report) posted its quarterly earnings data on Wednesday. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04, Zacks reports. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion.

Wipro Price Performance

Shares of WIT traded up $0.02 during trading hours on Monday, hitting $2.72. 2,797,206 shares of the company were exchanged, compared to its average volume of 5,018,772. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The company has a market cap of $28.44 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 3.08 and a beta of 0.96. The firm's fifty day moving average is $3.14 and its 200 day moving average is $4.49.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WIT. StockNews.com downgraded Wipro from a "buy" rating to a "hold" rating in a research note on Friday. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Finally, UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold".

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.