Wipro (WIT) Projected to Post Quarterly Earnings on Friday

Wipro (NYSE:WIT - Get Free Report) is anticipated to release its Q1 25/26 earnings data before the market opens on Friday, July 18th. Analysts expect the company to announce earnings of $0.04 per share and revenue of $219.23 billion for the quarter.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Wipro had a net margin of 14.73% and a return on equity of 15.97%. The business had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $225.66 billion. On average, analysts expect Wipro to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Wipro Price Performance

WIT stock traded down $0.01 during midday trading on Friday, reaching $2.91. The company had a trading volume of 10,733,027 shares, compared to its average volume of 5,057,250. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.72 and a quick ratio of 2.71. Wipro has a 1 year low of $2.63 and a 1 year high of $3.79. The company has a market capitalization of $30.44 billion, a P/E ratio of 19.40, a P/E/G ratio of 8.85 and a beta of 1.02. The firm has a 50-day moving average price of $2.96 and a 200-day moving average price of $3.17.

Hedge Funds Weigh In On Wipro

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its position in shares of Wipro by 184.9% in the 1st quarter. Jane Street Group LLC now owns 224,438 shares of the information technology services provider's stock worth $687,000 after purchasing an additional 145,658 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Wipro by 22.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider's stock worth $31,683,000 after purchasing an additional 1,864,943 shares during the period. NewEdge Advisors LLC lifted its position in shares of Wipro by 87.0% in the 1st quarter. NewEdge Advisors LLC now owns 270,702 shares of the information technology services provider's stock worth $828,000 after purchasing an additional 125,967 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of Wipro by 19.8% in the 1st quarter. Royal Bank of Canada now owns 120,431 shares of the information technology services provider's stock worth $369,000 after purchasing an additional 19,901 shares during the period. Institutional investors own 2.36% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WIT. Morgan Stanley raised shares of Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Finally, Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold".

About Wipro

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.