Wipro Limited (WIT) Earning Somewhat Favorable News Coverage, Study Finds

Media headlines about Wipro Limited (NYSE:WIT) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Wipro Limited earned a coverage optimism score of 0.13 on Accern’s scale. Accern also assigned headlines about the information technology services provider an impact score of 47.9100719688428 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:

A number of analysts recently commented on WIT shares. Zacks Investment Research raised Wipro Limited from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Friday, October 20th. BidaskClub lowered Wipro Limited from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. BNP Paribas lowered Wipro Limited from a “hold” rating to a “reduce” rating in a research note on Thursday, September 14th. Goldman Sachs Group, Inc. (The) lowered Wipro Limited from a “neutral” rating to a “sell” rating in a research note on Sunday, September 17th. Finally, Bank of America Corporation increased their price objective on Wipro Limited from $250.00 to $277.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $141.50.

Wipro Limited (WIT) opened at $5.03 on Monday. Wipro Limited has a 12-month low of $4.50 and a 12-month high of $6.40. The firm has a market capitalization of $24,454.85, a PE ratio of 18.29, a P/E/G ratio of 2.33 and a beta of 0.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.52 and a current ratio of 2.53.

Wipro Limited (NYSE:WIT) last released its earnings results on Tuesday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Wipro Limited had a return on equity of 16.14% and a net margin of 15.77%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.17 billion. analysts predict that Wipro Limited will post 0.27 EPS for the current fiscal year.

Wipro Limited declared that its board has authorized a stock buyback program on Thursday, July 20th that allows the company to buyback $1.70 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 6.1% of its stock through a tender offer. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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About Wipro Limited

Wipro Limited (Wipro) is a global information technology (IT) services provider. It 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 digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

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