Wipro Ltd. ADR (NYSE:WIT) shares, rose in value, with the stock price up by 1.05% to the previous day’s close as strong demand from buyers drove the stock to $5.75.
Actively observing the price movement in the last trading, the stock closed the session at $5.69. The PE ratio was 22.70 over 12-month period. Referring to stock’s 52-week performance, its high was $6.45, and the low was $4.32. On the whole, WIT has fluctuated by -5.89% over the past month.
The company’s Forward Dividend Ratio is 0.01, with its dividend yield at 0.21%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.07, which is expected to increase to $0.06 for fiscal year $0.25 and then to about $0.28 by fiscal year 2025.
Analysts have estimated the company’s revenue for the quarter at $2.65 billion, with a low estimate of $2.65 billion and a high estimate of $2.65 billion. According to the average forecast, sales growth in current quarter could jump down -6.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $10.84 billion, representing a decrease of -1.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WIT’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.52, with the price of WIT currently trading nearly -2.69% and -3.62% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.22, while the 7-day volatility ratio is showing 1.74% which for the 30-day chart, stands at 1.44%. Furthermore, Wipro Ltd. ADR (WIT)’s beta value is 0.86, and its average true range (ATR) is 0.11.
A comparison of Wipro Ltd. ADR (WIT) with its peers suggests the former has fared considerably weaker in the market. WIT showed an intraday change of 1.05% in last session, and over the past year, it grew by 27.78%%.
Data on historical trading for Wipro Ltd. ADR (NYSE:WIT) indicates that the trading volumes over the past 10 days have averaged 3.24 million and over the past 3 months, they’ve averaged 2.55 million. According to company’s latest data on outstanding shares, there are 5.48 billion shares outstanding.
Nearly 0.00% of Wipro Ltd. ADR’s shares belong to company insiders and institutional investors own 2.57% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.03 million shares as on Mar 15, 2024, resulting in a short ratio of 6.87. According to the data, the short interest in Wipro Ltd. ADR (WIT) stood at 0.25% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 13.36 million. The stock has risen by 3.23% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WIT stock heading into the next quarter.
