Wipro Ltd. ADR (NYSE: WIT) Loses -13.02% From High. Why That Could Change?

Currently, there are 5.48B common shares owned by the public and among those 5.23B shares have been available to trade.

The company’s stock has a 5-day price change of -1.06% and 0.72% over the past three months. WIT shares are trading 0.72% year to date (YTD), with the 12-month market performance up to 27.50% higher. It has a 12-month low price of $4.32 and touched a high of $6.45 over the same period. WIT has an average intraday trading volume of 2.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.90%, -6.04%, and 7.86% respectively.

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Institutional ownership of Wipro Ltd. ADR (NYSE: WIT) shares accounts for 2.54% of the company’s 5.48B shares outstanding.

It has a market capitalization of $29.31B and a beta (3y monthly) value of 0.86. The stock’s trailing 12-month PE ratio is 22.15, while the earnings-per-share (ttm) stands at $0.25. The company has a PEG of 2.46 and a Quick Ratio of 2.41 with the debt-to-equity ratio at 0.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.46% over the week and 1.38% over the month.

Analysts forecast that Wipro Ltd. ADR (WIT) will achieve an EPS of $0.07 for the current quarter, $0.06 for the next quarter and $0.28 for 2025. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -1.02%, and 11.44% over the next financial year. EPS should grow at an annualized rate of 9.00% over the next five years, compared to 5.62% over the past 5-year period.

Looking at the support for the WIT, a number of firms have released research notes about the stock. Exane BNP Paribas stated their Underperform rating for the stock in a research note on January 17, 2024, with the firm’s price target at $5.20. JP Morgan was of a view on May 23, 2023 that the stock is Underweight, while Bernstein gave the stock Underperform rating on March 22, 2023, issuing a price target of $5.10- $3.90. Credit Suisse on their part issued Underperform rating on October 13, 2022.

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