Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $12.00 on Wipro Limited (NYSE:WIT) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $0.55 for the next fiscal and $N/A for underway quarter.
Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Wipro Limited (NYSE:WIT) stands at 18.46.
Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Wipro Limited Common Stock, the PEG ratio for coming 3-5 years is 1.33.
The technical analysis highlights that Wipro Limited Common Stock current is trading $-1.09 points away or -9.99% from its 50-day moving average of $10.91. Further it is trading $-1.98 or -16.81% away its 200-day moving average of $11.80.
The 52-week high of Wipro Limited (NYSE:WIT) was $13.08 while lowest point recorded in 52-week was $9.81. It implies if stock price makes a movement of over $-3.26, it will record a new 52-week high. In the case of +0.10% drop, it will touch a new 52-week low.
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