Wipro Ltd (NYSE: WIT) has reported earnings for its second fiscal quarter (ending September 30) of $0.07 versus $0.06 for the same period a year ago — an increase of 17%. For the latest four quarters through September 30, E.P.S. were $0.27 compared to $0.26 a year ago — an increase of 4%.
Recent Price Action
Wipro Ltd (NYSE: WIT) stock declined modestly by -1.1% on 10/17/24. The stock closed at $6.35. Moreover, this decline was accompanied by exceptionally high trading volume at 211% of normal. The stock has been strong relative to the market over the last nine months but has declined -1.1% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, WIT is expected to continue to be an important Value Builder.
Wipro has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. Wipro has a slightly negative Appreciation Score of 36 but a slightly positive Power Rating of 61, triggering the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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