Wipro Limited (NYSE:WIT) Receives Average Rating of “Hold” from Analysts

Shares of Wipro Limited (NYSE:WITGet Rating) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.97.

Several analysts have recently commented on the stock. Macquarie assumed coverage on shares of Wipro in a research report on Monday, April 11th. They set a “neutral” rating on the stock. Jefferies Financial Group raised shares of Wipro from an “underperform” rating to a “hold” rating and reduced their price target for the company from $8.55 to $7.70 in a research report on Friday, February 4th. StockNews.com lowered shares of Wipro from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. JPMorgan Chase & Co. lowered shares of Wipro from a “neutral” rating to an “underweight” rating in a research report on Thursday. Finally, CLSA upgraded shares of Wipro from an “underperform” rating to an “outperform” rating in a report on Monday, February 21st.

WIT opened at $5.94 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.01 and a quick ratio of 2.01. The company’s 50 day simple moving average is $7.07 and its two-hundred day simple moving average is $7.93. Wipro has a 1-year low of $5.78 and a 1-year high of $9.96. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 2.19 and a beta of 0.85.

Wipro (NYSE:WITGet Rating) last released its earnings results on Friday, April 29th. The information technology services provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Wipro had a return on equity of 19.33% and a net margin of 15.44%. On average, equities analysts anticipate that Wipro will post 0.31 earnings per share for the current fiscal year.

The business also recently announced a dividend, which was paid on Wednesday, April 6th. Investors of record on Wednesday, April 6th were issued a $0.059 dividend. The ex-dividend date was Tuesday, April 5th. This is an increase from Wipro’s previous dividend of $0.02. Wipro’s dividend payout ratio (DPR) is 24.14%.

Large investors have recently bought and sold shares of the business. Liberty Wealth Management LLC grew its stake in shares of Wipro by 489.0% in the third quarter. Liberty Wealth Management LLC now owns 2,727 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 2,264 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Wipro during the fourth quarter worth $29,000. 1832 Asset Management L.P. acquired a new position in shares of Wipro during the first quarter worth $26,000. Glassman Wealth Services grew its stake in shares of Wipro by 66.9% during the fourth quarter. Glassman Wealth Services now owns 3,585 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 1,437 shares in the last quarter. Finally, CWM LLC acquired a new position in shares of Wipro during the fourth quarter worth $35,000. Institutional investors and hedge funds own 2.30% of the company’s stock.

Wipro Company Profile (Get Rating)

Wipro Limited operates as information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers 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, analytics, business process, research and development, and hardware and software design services to enterprises.

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