Price Action Report: What’s in Wipro Limited (ADR) After Today’s Huge Increase?

Price Action Report: What's in Wipro Limited (ADR) After Today's Huge Increase?

The stock of Wipro Limited (ADR) (NYSE:WIT) is a huge mover today! About 143,880 shares traded hands. Wipro Limited (ADR) (NYSE:WIT) has declined 23.01% since April 22, 2016 and is downtrending. It has underperformed by 28.42% the S&P500.
The move comes after 7 months positive chart setup for the $16.67 billion company. It was reported on Nov, 25 by Barchart.com. We have $9.92 PT which if reached, will make NYSE:WIT worth $500.10M more.

Analysts await Wipro Limited (ADR) (NYSE:WIT) to report earnings on January, 16. They expect $0.14 earnings per share, 0.00% or $0.00 from last year’s $0.14 per share. WIT’s profit will be $242.35M for 17.20 P/E if the $0.14 EPS becomes a reality. After $0.13 actual earnings per share reported by Wipro Limited (ADR) for the previous quarter, Wall Street now forecasts 7.69% EPS growth.

Wipro Limited (ADR) (NYSE:WIT) Ratings Coverage

Out of 7 analysts covering Wipro Limited (NYSE:WIT), 0 rate it a “Buy”, 5 “Sell”, while 2 “Hold”. This means 0 are positive. Wipro Limited has been the topic of 8 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Wednesday, August 5 by Zacks. As per Thursday, February 11, the company rating was downgraded by Morgan Stanley. Sterne Agee CRT initiated the stock with “Underperform” rating in Thursday, December 17 report. On Thursday, April 21 the stock rating was downgraded by Citigroup to “Sell”. The stock has “Reduce” rating given by Nomura on Monday, October 24. The firm has “Hold” rating by Zacks given on Tuesday, September 22. Wedbush initiated Wipro Limited (ADR) (NYSE:WIT) on Friday, September 9 with “Underperform” rating. The firm has “Reduce” rating given on Tuesday, August 9 by HSBC.

According to Zacks Investment Research, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally.”

Another recent and important Wipro Limited (ADR) (NYSE:WIT) news was published by Zacks.com which published an article titled: “Wipro Ltd-adr: (WIT)” on October 01, 2002.

WIT Company Profile

Wipro Limited (Wipro), incorporated on December 29, 1945, is a global information technology (IT) services provider. It operates through two divisions: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services. IT Products segment provides a range of third-party IT products, which allows it to offer IT system integration services.

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