The stock of Wipro Limited (ADR) (NYSE:WIT) is a huge mover today! About 312,151 shares traded hands. Wipro Limited (ADR) (NYSE:WIT) has declined 16.16% since March 11, 2016 and is downtrending. It has underperformed by 21.62% the S&P500.
The move comes after 9 months negative chart setup for the $17.81B company. It was reported on Oct, 14 by Barchart.com. We have $8.88 PT which if reached, will make NYSE:WIT worth $1.60 billion less.
Analysts await Wipro Limited (ADR) (NYSE:WIT) to report earnings on October, 19. They expect $0.14 EPS, 0.00% or $0.00 from last year’s $0.14 per share. WIT’s profit will be $255.47 million for 17.43 P/E if the $0.14 EPS becomes a reality. After $0.12 actual EPS reported by Wipro Limited (ADR) for the previous quarter, Wall Street now forecasts 16.67% EPS growth.
Wipro Limited (ADR) (NYSE:WIT) Ratings Coverage
Out of 6 analysts covering Wipro Limited (NYSE:WIT), 0 rate it a “Buy”, 4 “Sell”, while 2 “Hold”. This means 0 are positive. Wipro Limited has been the topic of 7 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Wipro Limited (ADR) (NYSE:WIT) has “Hold” rating given on Wednesday, August 5 by Zacks. Wedbush initiated it with “Underperform” rating and $8.50 target price in Friday, September 9 report. Sterne Agee CRT initiated Wipro Limited (ADR) (NYSE:WIT) on Thursday, December 17 with “Underperform” rating. The stock has “Hold” rating given by Zacks on Tuesday, September 22. Citigroup downgraded the stock to “Sell” rating in Thursday, April 21 report. HSBC downgraded the stock to “Reduce” rating in Tuesday, August 9 report. The rating was downgraded by Morgan Stanley on Thursday, February 11 to “Equal-Weight”.
According to Zacks Investment Research, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally.”
More news for Wipro Limited (ADR) (NYSE:WIT) were recently published by: Zacks.com, which released: “Wipro Ltd-adr: (WIT)” on October 01, 2002. Benzinga.com‘s article titled: “Citi Downgrades Wipro To Sell Due To Slowing Organic Growth” and published on April 21, 2016 is yet another important article.
WIT Company Profile
Wipro Limited (Wipro), incorporated on December 29, 1945, is a global information technology (IT) services provider. It operates through two divisions: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services. IT Products segment provides a range of third-party IT products, which allows it to offer IT system integration services.
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