Wipro Limited (ADR) (WIT) is Downgraded by Citigroup to Sell

Wipro Limited (ADR) (WIT) was Downgraded by Citigroup to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Apr 21, 2016.

Many Wall Street Analysts have commented on Wipro Limited (ADR). Wipro Limited (ADR) was Downgraded by Credit Suisse to ” Neutral” on Apr 20, 2016. Wipro Limited (ADR) was Downgraded by Morgan Stanley to ” Equal-Weight” on Feb 11, 2016.

On the company’s financial health, Wipro Limited (ADR) reported $9.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.45 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $9.53. The company had revenue of $136324.00 million for the quarter, compared to analysts expectations of $134321.95 million. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.21 EPS.

Wipro Limited (ADR) closed down -0.05 points or -0.39% at $12.88 with 6,62,449 shares getting traded on Monday. Post opening the session at $12.86, the shares hit an intraday low of $12.68 and an intraday high of $12.89 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services which include IT consulting custom application design development re-engineering and maintenance systems integration package implementation global infrastructure services business process services research and development and hardware and software design to the enterprises worldwide. The IT Products segment provides a range of third-party IT products which allows it to offer IT system integration services. These products include computing storage networking security and software products including databases and operating systems. The Company’s development centers are located around the world including in India the United States Europe Australia the Philippines and China.

Wipro Limited (ADR)

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Wipro Limited (ADR) - Is it time to Sell?

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