Wipro (NYSE:WIT) Announces Quarterly Earnings Results

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

Wipro Stock Down 0.9 %

Shares of Wipro stock traded down $0.03 during trading hours on Friday, reaching $2.71. 5,394,346 shares of the company were exchanged, compared to its average volume of 5,057,503. The stock's fifty day moving average is $3.14 and its 200 day moving average is $4.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro has a 1 year low of $2.55 and a 1 year high of $3.79. The firm has a market cap of $28.29 billion, a PE ratio of 18.66, a PEG ratio of 3.08 and a beta of 0.96.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Finally, StockNews.com lowered shares of Wipro from a "buy" rating to a "hold" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently 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.