Wipro Limited (NYSE: WIT) is 12.92% higher on its value in year-to-date trading and has touched a low of $2.52 and a high of $6.32 in the current 52-week trading range. The WIT stock was last observed hovering at around $6.30 in the last trading session, with the day’s gains setting it 0.08% off its average median price target of $5.20 for the next 12 months. It is also -0.79% off the consensus price target high of $6.33 offered by 42 analysts, but current levels are -75.27% lower than the price target low of $3.64 for the same period.
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Currently trading at $6.38, the stock is 14.10% and 20.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.5 million and changing 1.27% at the moment leaves the stock 52.64% off its SMA200. WIT registered 64.86% gain for a year compared to 6-month gain of 88.20%. The firm has a 50-day simple moving average (SMA 50) of $5.46 and a 200-day simple moving average (SMA200) of $4.67.
The stock witnessed a 20.15% loss in the last 1 month and extending the period to 3 months gives it a 18.15%, and is 11.34% 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 2.24% over the week and 2.11% over the month.
Wipro Limited (WIT) has around 180000 employees, a market worth around $32.07B and $8.34B in sales. Current P/E ratio is 27.74 and Fwd P/E is 24.92. Profit margin for the company is 15.70%. Distance from 52-week low is 153.17% and 0.95% 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”. 42 analysts offering their recommendations for the stock have an average rating of 4.20, where 13 rate it as a Hold and 5 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 12 analysts have rated the stock as a Sell or Underperform.
Wipro Limited is expected to release its quarterly report on 04/27/2021 and quarterly earnings per share for the current quarter are estimated at $0.06 with sales reaching $2.13B over the same period.The EPS is expected to grow by 11.20% this year, but quarterly earnings will post 4.00% year-over-year. Quarterly sales are estimated to shrink -1.80% in year-over-year returns.
Wipro Limited (WIT) Top Institutional Holders
206 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 0.80%. Institutions hold 2.36% of the Float.
The top institutional shareholder in the company is State Street Corporation with over 14.01 million shares valued at $65.84 million. The investor’s holdings represent 13.67% of the WIT Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 13.78 million shares valued at $64.77 million to account for 13.44% of the shares outstanding. The other top investors are Blackrock Inc. which holds 13.33 million shares representing 13.01% and valued at over $62.67 million, while AQR Capital Management, LLC holds 9.58% of the shares totaling 9.82 million with a market value of $46.13 million.
Wipro Limited (WIT): Who are the competitors?
The company’s main competitors (and peers) include Accenture plc (ACN) that is trading 25.37% up over the past 12 months. International Business Machines Corporation (IBM) is -5.93% down on the 1-year trading charts. Short interest in the company’s stock has risen 14.8% from the last report on Nov 12, 2020 to stand at a total of 11.51 million short shares sold with a short interest ratio of 11.23.