Wipro Limited (WIT) Sets New 1-Year Low at $10.19
Wipro Limited (NYSE:WIT) hit a new 52-week low on Monday . The company traded as low as $10.19 and last traded at $10.19, with a volume of 341,415 shares. The stock had previously closed at $10.35.
A number of brokerages have weighed in on WIT. Zacks Investment Research upgraded shares of Wipro Limited from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. HSBC cut shares of Wipro Limited from a “hold” rating to a “reduce” rating in a report on Tuesday, August 9th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Wipro Limited currently has an average rating of “Hold” and an average target price of $12.50.
The firm’s 50-day moving average price is $11.38 and its 200 day moving average price is $11.88. The company has a market cap of $24.98 billion and a P/E ratio of 19.12.
Wipro Limited (NYSE:WIT) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.02 billion. Analysts expect that Wipro Limited will post $0.55 EPS for the current 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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