Infosys Ltd. (INFY) Set to Announce Earnings on Friday
Infosys Ltd. (NYSE:INFY) is scheduled to be releasing its Q217 earnings data on Friday, October 14th. Analysts expect Infosys to post earnings of $0.24 per share and revenue of $2.60 billion for the quarter.
Infosys (NYSE:INFY) last released its earnings results on Friday, July 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.01. Infosys had a net margin of 21.41% and a return on equity of 23.24%. The company had revenue of $2.50 billion for the quarter. During the same quarter in the previous year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, analysts expect Infosys to post $0.95 EPS for the current fiscal year and $1.05 EPS for the next fiscal year.
Infosys Ltd. (NYSE:INFY) opened at 15.93 on Thursday. The company’s 50 day moving average is $16.01 and its 200-day moving average is $17.53. Infosys Ltd. has a 52-week low of $15.48 and a 52-week high of $20.47. The firm has a market cap of $36.41 billion, a P/E ratio of 17.51 and a beta of 1.07.
Several hedge funds have recently made changes to their positions in the stock. Allianz Asset Management AG boosted its stake in shares of Infosys by 21.7% in the second quarter. Allianz Asset Management AG now owns 2,304,452 shares of the company’s stock worth $41,129,000 after buying an additional 411,487 shares during the period. State Street Corp boosted its stake in shares of Infosys by 5.0% in the second quarter. State Street Corp now owns 7,055,356 shares of the company’s stock worth $125,938,000 after buying an additional 333,037 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Infosys by 99.8% in the second quarter. Pictet Asset Management Ltd. now owns 514,425 shares of the company’s stock worth $10,000,000 after buying an additional 257,000 shares during the period. Raymond James & Associates boosted its stake in shares of Infosys by 949.2% in the second quarter. Raymond James & Associates now owns 264,538 shares of the company’s stock worth $4,722,000 after buying an additional 239,324 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Infosys by 21.0% in the second quarter. Sei Investments Co. now owns 1,044,727 shares of the company’s stock worth $18,648,000 after buying an additional 181,606 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.
Several research analysts have commented on INFY shares. Wells Fargo & Co. reissued a “hold” rating on shares of Infosys in a research note on Tuesday, August 16th. Zacks Investment Research downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $17.00 target price on shares of Infosys in a research note on Monday, July 18th. Pacific Crest reaffirmed a “hold” rating on shares of Infosys in a research note on Monday. Finally, Wedbush initiated coverage on shares of Infosys in a research note on Thursday, September 8th. They issued a “neutral” rating and a $18.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.97.
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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