Positive Media Coverage Somewhat Unlikely to Affect Wipro (WIT) Stock Price

Press coverage about Wipro (NYSE:WIT) has been trending positive this week, Accern Sentiment Analysis reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Wipro earned a daily sentiment score of 0.29 on Accern’s scale. Accern also assigned headlines about the information technology services provider an impact score of 45.8062708306368 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

Here are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:

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WIT has been the topic of a number of recent research reports. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Friday. BNP Paribas upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, April 9th. Finally, Credit Suisse Group lowered Wipro from a “neutral” rating to a “sell” rating in a research note on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Shares of WIT traded up $0.04 during midday trading on Tuesday, hitting $5.33. The company’s stock had a trading volume of 790,309 shares, compared to its average volume of 1,482,486. Wipro has a one year low of $4.75 and a one year high of $6.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.14 and a current ratio of 2.16. The firm has a market cap of $23,305.65, a price-to-earnings ratio of 19.74, a PEG ratio of 2.18 and a beta of 0.67.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, January 19th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Wipro had a return on equity of 16.09% and a net margin of 15.46%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. research analysts forecast that Wipro will post 0.27 EPS for the current fiscal year.

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About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. The company's IT Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, business process services, research and development, and hardware and software design services to enterprises.

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