The stock of Wipro Limited (NYSE:WIT) increased by $0.06 on Wednesday to $5.04, up 1.20 percent. The last five days have seen an average of 1,142,037 shares of common stock traded. 11 times new highs were reached in the current year, with a gain of $0.38. The average number of shares traded over the last 20 days was 1,437,679, while the average volume over the last 50 days totaled 1,778,928.
WIT stock dropped -0.98% since last month. On 08/03/23, the company’s shares reached a one-month low of $4.79. The stock touched a high of $5.53 on 07/19/23, after rallying from a low of $4.32 in 52 weeks. The price of WIT stock has risen by 8.15% or $0.38 this year, reaching a new high 11 times. Still, the stock price is down -8.78% from the 52-week high.
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Valuation Metrics
Wipro Limited (WIT) has a trailing price-to-earnings (P/E) ratio of 19.69. Beta for the stock is 0.80. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.41, the price-to-book (PB) ratio of 3.41.
Company paid $0.0590 per share in dividends, an increase of 391.67% from $0.0120 last year. A $0.0470 dividend increase was reported on Friday March 25 2022.
Financial Health
For the recent quarter, Wipro Limited’s quick ratio was 1.70, while its current ratio was 1.70, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.12, and the total debt to equity ratio is 0.26. As far as profitability goes, gross margin for the trailing twelve months is 29.10% percent. Wipro Limited’s EBITDA margin for the recent year was 18.63%, whereas its operating margin stood at 15.50% for the same period. Based on annual data, it had gross profit of $3.16 billion and revenue of $11.01 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. WIT’s return on assets (ROA) during the last 12 months has been 10.00%. There was a 11.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 16.00%.
Earnings Surprise
A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $11.01 billion, while revenues rose by 5.32% to $0.0. EBITDA was $510.0 million for the quarter. At the end of Wipro Limited’s most recent quarter, its liabilities totaled 6.47 billion, while its total debt was $174.69 billion.
Technical Picture
Here’s a quick look at Wipro Limited’s (WIT) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 65.01%, suggesting the stock is Neutral, with a 16.92% historical volatility rate.
The stochastic %K and %D were 80.77% and 76.50% respectively, while the average true range (ATR) was 0.07. Based on the 14-day stochastic reading of 96.15%, the RSI (14) reading is 61.71%. On the 9-day MACD Oscillator, the stock is at 0.02, and the 14-day reading is at 0.06.
Analyst Ratings
In its analyst report released on May 23, 2023, JP Morgan began covering Wipro Limited (NYSE: WIT). The stock was rated as an Underweight by the brokerage firm. Analysts have assigned Wipro Limited (WIT) an Hold rating. WIT is a stock that is recommended for selling by 9 brokerage firms, while 14 companies recommend holding. The stock is underweighted by 6 analysts. Among the analysts who rate the stock, 4 rates it overweight and 5 others recommend it as a buy.
What is WIT’s price target for the next 12 months?
The current consensus forecast for the stock is between $3.88 and $5.92, with a median target price of $4.75. In analyzing these forecasts, the average price target given by analysts for Wipro Limited (WIT) is $4.75.