Wipro Limited (NYSE:WIT) to Post Q1 2021 Earnings of $0.06 Per Share, Wedbush Forecasts

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Wipro Limited (NYSE:WIT) – Equities researchers at Wedbush issued their Q1 2021 EPS estimates for Wipro in a research note issued to investors on Tuesday, October 15th. Wedbush analyst M. Katri forecasts that the information technology services provider will post earnings per share of $0.06 for the quarter. Wedbush currently has a “Underperform” rating on the stock. Wedbush also issued estimates for Wipro’s Q2 2021 earnings at $0.07 EPS, Q3 2021 earnings at $0.07 EPS, Q4 2021 earnings at $0.07 EPS and FY2021 earnings at $0.26 EPS.

Wipro (NYSE:WIT) last released its quarterly earnings data on Wednesday, July 17th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company had revenue of $139.80 million during the quarter, compared to analyst estimates of $147.23 billion. Wipro had a net margin of 16.58% and a return on equity of 17.28%. Wipro’s revenue for the quarter was down 5.0% on a year-over-year basis.

Several other analysts have also commented on WIT. ValuEngine lowered shares of Wipro from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Goldman Sachs Group raised shares of Wipro from a “sell” rating to a “neutral” rating and decreased their price target for the company from $3.47 to $3.46 in a research report on Thursday, October 3rd. Credit Suisse Group raised shares of Wipro from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 15th. TheStreet lowered shares of Wipro from a “b” rating to a “c+” rating in a research report on Tuesday, September 3rd. Finally, Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a research report on Saturday. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.44.

WIT stock opened at $3.80 on Friday. The firm has a market cap of $22.84 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.46 and a beta of 0.50. The firm has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $4.12. Wipro has a one year low of $3.51 and a one year high of $4.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.69 and a current ratio of 2.71.

Several hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its position in shares of Wipro by 38.7% during the first quarter. First Trust Advisors LP now owns 8,743,912 shares of the information technology services provider’s stock valued at $34,801,000 after buying an additional 2,437,740 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Wipro by 5.1% during the second quarter. AQR Capital Management LLC now owns 8,178,755 shares of the information technology services provider’s stock valued at $35,414,000 after acquiring an additional 394,620 shares in the last quarter. Segantii Capital Management Ltd increased its holdings in shares of Wipro by 3.9% during the second quarter. Segantii Capital Management Ltd now owns 7,996,749 shares of the information technology services provider’s stock valued at $34,239,000 after acquiring an additional 302,759 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Wipro by 8.9% during the second quarter. Aperio Group LLC now owns 5,097,912 shares of the information technology services provider’s stock valued at $22,074,000 after acquiring an additional 418,431 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Wipro by 128.3% during the second quarter. Schroder Investment Management Group now owns 3,152,170 shares of the information technology services provider’s stock valued at $13,649,000 after acquiring an additional 1,771,181 shares in the last quarter. 2.22% of the stock is owned by institutional investors and hedge funds.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of 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 services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.

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Earnings History and Estimates for Wipro (NYSE:WIT)

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