$3.04 Billion in Sales Expected for Infosys Ltd (INFY) This Quarter

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Wall Street brokerages expect Infosys Ltd (NYSE:INFY) to announce sales of $3.04 billion for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Infosys’ earnings. The highest sales estimate is $3.09 billion and the lowest is $2.99 billion. Infosys posted sales of $2.81 billion during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The company is scheduled to issue its next quarterly earnings results on Friday, April 12th.

On average, analysts expect that Infosys will report full-year sales of $11.75 billion for the current financial year, with estimates ranging from $11.48 billion to $11.82 billion. For the next fiscal year, analysts forecast that the business will report sales of $12.77 billion, with estimates ranging from $12.56 billion to $13.09 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Infosys.

Infosys (NYSE:INFY) last issued its earnings results on Friday, January 11th. The technology company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Infosys had a return on equity of 24.93% and a net margin of 18.95%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.95 billion.

Several research analysts have recently commented on INFY shares. Cantor Fitzgerald reiterated a “hold” rating and set a $10.00 target price on shares of Infosys in a research note on Friday, January 11th. Morgan Stanley upgraded Infosys from an “equal weight” rating to an “overweight” rating in a research note on Monday, January 14th. ValuEngine upgraded Infosys from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Finally, Susquehanna Bancshares raised Infosys from a “negative” rating to a “neutral” rating and lifted their price target for the stock from $7.50 to $11.00 in a report on Monday, January 14th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.75.

Shares of NYSE INFY traded up $0.10 during midday trading on Friday, hitting $10.70. 7,108,191 shares of the company’s stock were exchanged, compared to its average volume of 9,125,963. Infosys has a 12 month low of $8.24 and a 12 month high of $10.94. The company has a market capitalization of $45.85 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.05 and a beta of 0.54.

Large investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its holdings in Infosys by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 41,879,875 shares of the technology company’s stock valued at $398,696,000 after acquiring an additional 647,262 shares in the last quarter. Investec Asset Management LTD raised its holdings in Infosys by 23.1% in the 4th quarter. Investec Asset Management LTD now owns 39,628,149 shares of the technology company’s stock valued at $377,260,000 after acquiring an additional 7,430,134 shares in the last quarter. Comgest Global Investors S.A.S. raised its holdings in Infosys by 34.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 35,080,350 shares of the technology company’s stock valued at $356,768,000 after acquiring an additional 8,938,309 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Infosys by 1,119,378.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 34,065,719 shares of the technology company’s stock valued at $346,449,000 after acquiring an additional 34,062,676 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Infosys by 166.6% in the 3rd quarter. BlackRock Inc. now owns 29,932,893 shares of the technology company’s stock valued at $304,416,000 after acquiring an additional 18,705,434 shares in the last quarter. 17.81% of the stock is owned by institutional investors and hedge funds.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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