Infosys (NYSE:INFY) Announces Quarterly Earnings Results, Hits Expectations

Infosys (NYSE:INFY) released its quarterly earnings results on Friday. The technology company reported $0.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13, RTT News reports. Infosys had a return on equity of 25.41% and a net margin of 18.62%. The company had revenue of $218.03 billion for the quarter, compared to analyst estimates of $216.51 billion. During the same quarter in the prior year, the firm posted $0.13 EPS. Infosys’s quarterly revenue was up 14.0% compared to the same quarter last year. Infosys updated its FY 2020 guidance to EPS.

Shares of Infosys stock opened at $11.40 on Friday. The firm has a fifty day simple moving average of $10.61. The company has a market cap of $49.55 billion, a P/E ratio of 21.11, a PEG ratio of 2.20 and a beta of 0.52. Infosys has a 52 week low of $8.85 and a 52 week high of $11.56.

The firm also recently disclosed a dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were given a $0.14 dividend. The ex-dividend date was Thursday, June 13th. This is an increase from Infosys’s previous dividend of $0.05. Infosys’s dividend payout ratio is 51.85%.

Several analysts recently weighed in on the company. Credit Suisse Group increased their price target on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Morgan Stanley decreased their price target on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. HSBC lowered easyJet to a “hold” rating in a report on Tuesday, April 2nd. Wedbush restated a “neutral” rating on shares of Infosys in a report on Friday. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.36.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

Further Reading: Support Level

Earnings History for Infosys (NYSE:INFY)

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