Wipro Limited (NYSE: WIT) is -9.60% lower on its value in year-to-date trading and has touched a low of $2.52 and a high of $4.29 in the current 52-week trading range. The WIT stock was last observed hovering at around $3.39 in the recent trading session, with the current gains setting it 0.02% off its average median price target of $2.75 for the next 12 months. It is also 3.12% off the consensus price target high of $3.52 offered by 44 analysts, but current levels are -60.85% lower than the price target low of $2.12 for the same period.
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At last check, trading at $3.41, the stock is 3.02% and 6.66% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.21 million and changing 0.59% at the moment leaves the stock -1.57% off its SMA200. WIT registered -19.29% loss for a year compared to 6-month loss of -12.40%. The firm has a 50-day simple moving average (SMA 50) of $3.2859 and a 200-day simple moving average (SMA200) of $3.3259.
The stock witnessed a 8.65% gain in the last 1 month and extending the period to 3 months gives it a 11.51%, and is 1.19% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.09% over the week and 2.68% over the month.
Wipro Limited (WIT) has around 175000 employees, a market worth around $16.98B and $8.12B in sales. Current P/E ratio is 15.34 and Fwd P/E is 14.07. Profit margin for the company is 15.90%. Distance from 52-week low is 35.32% and -20.51% from its 52-week high. The company has generated returns on investments over the last 12 months (12.40%).
Wipro Limited (WIT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Wipro Limited (WIT) is a “Hold”. 44 analysts offering their recommendations for the stock have an average rating of 4.00, where 15 rate it as a Hold and 7 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 11 analysts have rated the stock as a Sell or Underperform.
Wipro Limited is expected to release its quarterly report on 07/16/2020 and quarterly earnings per share for the current quarter are estimated at $0.05 with sales reaching $1.86B over the same period.The EPS is expected to grow by 11.20% this year, but quarterly earnings will post -0.80% year-over-year. Quarterly sales are estimated to shrink -12.70% in year-over-year returns.
Wipro Limited (WIT) Top Institutional Holders
204 institutions hold shares in Wipro Limited (WIT), with institutional investors hold 2.36% of the company’s shares. The shares outstanding are 5.69B, and float is at 1.69B with Short Float at 0.71%. Institutions hold 2.36% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 17.38 million shares valued at $53.89 million. The investor’s holdings represent 16.96% of the WIT Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 14.03 million shares valued at $43.49 million to account for 13.69% of the shares outstanding. The other top investors are Schroder Investment Management Group which holds 13.85 million shares representing 13.51% and valued at over $42.92 million, while State Street Corporation holds 11.80% of the shares totaling 12.1 million with a market value of $37.51 million.
Wipro Limited (WIT): Who are the competitors?
The company’s main competitors (and peers) include Accenture plc (ACN) that is trading 9.95% up over the past 12 months. International Business Machines Corporation (IBM) is -16.49% down on the 1-year trading charts. Short interest in the company’s stock has risen 3.69% from the last report on May 28, 2020 to stand at a total of 11.99 million short shares sold with a short interest ratio of 10.25.