The stock of Wipro Limited (NYSE:WIT) decreased by -$0.04 on Wednesday to $4.95, down -0.90 percent. The last five days have seen an average of 1,066,381 shares of common stock traded. 11 times new highs were reached in the current year, with a gain of $0.28. The average number of shares traded over the last 20 days was 1,236,380, while the average volume over the last 50 days totaled 1,592,644.
WIT stock appreciated 0.30% 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 $5.31 on 07/19/23, after rallying from a low of $4.32 in 52 weeks. The price of WIT stock has risen by 6.12% or $0.28 this year, reaching a new high 11 times. Still, the stock price is down -6.87% from the 52-week high.
Valuation Metrics
Wipro Limited (WIT) has a trailing price-to-earnings (P/E) ratio of 19.32. Beta for the stock is 0.81. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.33, the price-to-book (PB) ratio of 3.34.
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 three months ended June 29, 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 quarter ending June 29 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 year ended June 29 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
According to Wipro Limited’s quarterly financial report for the quarter that ended June 29. 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. It was predicted that Wipro Limited’s quarterly earnings would be $0.06, but it ended up being $0.07, beating the consensus by -14.30%. EBITDA was $510.0 million for the quarter. At the end of Wipro Limited’s most recent quarter ended June 29, 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 29 August, the RSI 9-day stood at 45.94%, suggesting the stock is Neutral, with a 20.40% historical volatility rate.
The stochastic %K and %D were 38.33% and 40.56% respectively, while the average true range (ATR) was 0.06. Based on the 14-day stochastic reading of 25.00%, the RSI (14) reading is 49.37%. On the 9-day MACD Oscillator, the stock is at -0.01, and the 14-day reading is at -0.01.
Analyst Ratings
In its analyst report released on August 22, 2023, Goldman began covering Wipro Limited (NYSE: WIT). The stock was rated as a Sell by the brokerage firm.
