Is Wipro Limited (NYSE: WIT) Worth Much? What Should Investors Do? – Marketing Sentinel
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Is Wipro Limited (NYSE: WIT) Worth Much? What Should Investors Do?

During the recent session, Wipro Limited (NYSE:WIT)’s traded shares were 1.94 million, with the beta value of the company hitting 0.86. At the last check today, the stock’s price was $6.16, reflecting an intraday loss of -0.88% or -$0.06. The 52-week high for the WIT share is $9.96, that puts it down -61.69 from that peak though still a striking 2.44% gain since the share price plummeted to a 52-week low of $6.01. The company’s market capitalization is $35.80B, and the average intraday trading volume over the past 10 days was 3.3 million shares, and the average trade volume was 3.27 million shares over the past three months.

Wipro Limited (WIT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 4.50. WIT has a Sell rating from 3 analyst(s) out of 40 analysts who have looked at this stock. 17 analyst(s) recommend to Hold the stock while 5 suggest Overweight, and 8 recommend a Buy rating for it. 7 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.07.

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Wipro Limited (NYSE:WIT) trade information

Wipro Limited (WIT) registered a -0.88% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.88% in intraday trading to $6.16 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -1.89%, and it has moved by -13.73% in 30 days. Based on these gigs, the overall price performance for the year is -15.37%. The short interest in Wipro Limited (NYSE:WIT) is 13.82 million shares and it means that shorts have 3.82 day(s) to cover.

The consensus price target of analysts on Wall Street is $7.53, which implies an increase of 18.19% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.01 and $11.39 respectively. As a result, WIT is trading at a discount of -84.9% off the target high and 2.44% off the low.

Wipro Limited (WIT) estimates and forecasts

Statistics show that Wipro Limited has underperformed its competitors in share price, compared to the industry in which it operates. Wipro Limited (WIT) shares have gone down -30.19% during the last six months, with a year-to-date growth rate less than the industry average at 6.90% against 12.30. In the rating firms’ projections, revenue will increase 23.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.64 billion as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $2.7 billion by the end of Mar 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 7.00%. While earnings are projected to return 14.70% in 2022, the next five years will return 9.00% per annum.

WIT Dividends

Wipro Limited is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Wipro Limited is 0.08, with the dividend yield indicating at 1.27 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 0.29%.

Wipro Limited (NYSE:WIT)’s Major holders

Wipro Limited insiders own 0.00% of total outstanding shares while institutional holders control 2.44%, with the float percentage being 2.44%. Blackrock Inc. is the largest shareholder of the company, while 289 institutions own stock in it. As of Dec 30, 2021, the company held over 15.52 million shares (or 0.28% of all shares), a total value of $151.52 million in shares.

The next largest institutional holding, with 13.18 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 0.24% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $128.64 million.

Also, the Mutual Funds coming in first place with the largest holdings of Wipro Limited (WIT) shares are Vanguard International Stock Index-Total Intl Stock Indx and Vanguard International Stock Index-Emerging Markets Stk. Data provided on Oct 30, 2021 indicates that Vanguard International Stock Index-Total Intl Stock Indx owns about 6.46 million shares. This amounts to just over 0.12 percent of the company’s overall shares, with a $57.87 million market value. The same data shows that the other fund manager holds slightly less at 4.55 million, or about 0.08% of the stock, which is worth about $40.78 million.

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