Wipro Limited (NYSE:WIT) Given Average Rating of “Strong Sell” by Brokerages

Shares of Wipro Limited (NYSE:WIT) have been assigned an average recommendation of “Strong Sell” from the three ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.30.

Separately, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Friday.

Institutional Trading of Wipro

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Wipro by 47.2% during the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock worth $33,000 after buying an additional 1,858 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Wipro in the first quarter worth $60,000. Intelligence Driven Advisers LLC bought a new stake in Wipro during the fourth quarter valued at $61,000. Dorsey & Whitney Trust CO LLC bought a new stake in Wipro during the third quarter valued at $56,000. Finally, Essex Savings Bank acquired a new stake in shares of Wipro during the fourth quarter worth $67,000. 2.36% of the stock is owned by institutional investors.

Wipro Trading Down 0.3 %

WIT opened at $5.45 on Monday. The firm’s 50 day moving average is $5.53 and its 200-day moving average is $5.52. Wipro has a 52-week low of $4.48 and a 52-week high of $6.45. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $28.42 billion, a P/E ratio of 21.78, a P/E/G ratio of 3.72 and a beta of 0.86.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Friday, April 19th. The information technology services provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. Wipro had a net margin of 12.29% and a return on equity of 16.05%. Analysts expect that Wipro will post 0.27 EPS for the current fiscal year.

Wipro Company Profile

Wipro Limited operates as an 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 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.