Wipro Limited (WIT) Shares Down 1.2%
Wipro Limited (NYSE:WIT) fell 1.2% during trading on Thursday . The company traded as low as $10.89 and last traded at $10.91, with a volume of 341,405 shares traded. The stock had previously closed at $11.04.
A number of research firms have commented on WIT. HSBC downgraded shares of Wipro Limited from a “hold” rating to a “reduce” rating in a research report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Wipro Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company presently has an average rating of “Sell” and a consensus price target of $12.50.
The firm has a market cap of $26.55 billion and a price-to-earnings ratio of 20.36. The firm has a 50-day moving average of $11.59 and a 200 day moving average of $11.92.
Wipro Limited (NYSE:WIT) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.02. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.02 billion. On average, equities analysts forecast that Wipro Limited will post $0.55 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Wipro Limited stock. Russell Frank Co raised its stake in Wipro Limited (NYSE:WIT) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,457 shares of the company’s stock after buying an additional 17,500 shares during the period. Russell Frank Co’s holdings in Wipro Limited were worth $2,788,000 at the end of the most recent quarter.
Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.
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