As of Thursday close, Wipro Limited’s (NYSE:WIT) stock was down -$0.1, moving down -1.93 percent to $5.08. The average number of shares traded per day over the past five days has been 1,411,800 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.21 fall in that time frame. In the last twenty days, the average volume was 1,485,275, while in the previous 50 days, it was 1,598,050.
Since last month, WIT stock rose 1.80%. Shares of the company fell to $4.88 on 08/31/23, the lowest level in the past month. A 52-week high of $5.31 was reached on 09/15/23 after having rallying from a 52-week low of $4.32. Since the beginning of this year, WIT’s stock price has risen by 9.01% or $0.42, and marked a new high 15 times. However, the stock has declined by -4.33% since its 52-week high.
Valuation Metrics
Right now, Wipro Limited (WIT) has a P/E ratio of about 19.92. The stock’s beta is 0.80. Besides these, the trailing price-to-sales (P/S) ratio of 2.41, the price-to-book (PB) ratio of 3.46.
The latest dividend of $0.0590 per share was paid out, which is 391.67% more than last year’s $0.0120. On Friday March 25 2022, a $0.0470 dividend increase was announced.
Financial Health
In the three months ended June 29, Wipro Limited’s quick ratio stood at 1.70, while its current ratio was 1.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.12, and the total debt-to-equity ratio was 0.26. On the profitability front, the trailing twelve-month gross margin is 29.10% percent. In the year ended June 29, operating margins totaled 15.50%. Based on annual data, WIT earned $3.16 billion in gross profit and brought in $11.01 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 11.00%. Return on equity (ROE) for the past 12 months was 16.00%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. WIT’s revenue rose 5.32% during the quarter, while net income inched up to $11.01 billion. While analysts expected Wipro Limited to report $0.07 quarterly earnings, the actual figure was $0.06 per share, beating the consensus estimate by -14.30%. During the quarter, the company generated $510.0 million in EBITDA. The liabilities of Wipro Limited were 6.47 billion at the end of its most recent quarter ended June 29, and its total debt was $174.69 billion.
Technical Picture
This quick technical analysis looks at Wipro Limited’s (WIT) price momentum. With a historical volatility rate of 16.62%, the RSI 9-day stood at 41.95% on 21 September.
With respect to its five-day moving average, the current Wipro Limited price is down by -3.97% percent or -$0.21. At present, WIT shares trade -0.20% below its 20-day simple moving average and +8.09% percent above its 100-day simple moving average. However, the stock is currently trading approximately +7.17% above its SMA50 and -0.59% below its SMA200.
Stochastic coefficient K was 55.84% and Stochastic coefficient D was 69.26%, while ATR was 0.07. Given the Stochastic reading of 23.33% for the 14-day period, the RSI (14) reading has been calculated as 48.38%. As of today, the MACD Oscillator reading stands at -0.06, while the 14-day reading stands at -0.03.
Analyst Ratings
Goldman launched its rating on Wipro Limited (NYSE: WIT) to a Sell in a note to investors on August 22, 2023. Wipro Limited (WIT) has been rated Hold by analysts. According to 9 brokerage firms, WIT is a sell, and 14 firms recommend it is a Hold. There are 6 analysts who say the stock is underweight. A total of 4 analysts rate Wipro Limited stock as buy, with 6 recommending it as overweight.
With a median target price of $4.87, the current consensus forecast for the stock is $3.88 – $5.92. Based on these forecasts, analysts predict Wipro Limited (WIT) will achieve an average price target of $4.81.
