Wipro Limited (WIT) Reaches New 1-Year Low at $10.62
Shares of Wipro Limited (NYSE:WIT) hit a new 52-week low on Monday . The company traded as low as $10.62 and last traded at $10.65, with a volume of 241,086 shares traded. The stock had previously closed at $10.81.
A number of analysts have weighed in on the company. HSBC downgraded Wipro Limited from a “hold” rating to a “reduce” rating in a report on Tuesday, August 9th. Zacks Investment Research cut 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 company’s stock. Wipro Limited presently has an average rating of “Sell” and a consensus price target of $12.50.
The company has a market cap of $26.40 billion and a P/E ratio of 20.24. The stock has a 50-day moving average price of $11.52 and a 200-day moving average price of $11.90.
Wipro Limited (NYSE:WIT) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ 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. Equities analysts forecast that Wipro Limited will post $0.55 earnings per share for the current fiscal year.
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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