Infosys Ltd. (INFY) to Release 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 announced its quarterly earnings data on Friday, July 15th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Infosys had a return on equity of 23.24% and a net margin of 21.41%. The firm had revenue of $2.50 billion for the quarter. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s quarterly revenue 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.
Shares of Infosys Ltd. (NYSE:INFY) opened at 15.93 on Thursday. Infosys Ltd. has a one year low of $15.48 and a one year high of $20.47. The stock’s 50 day moving average price is $16.01 and its 200 day moving average price is $17.53. The firm has a market cap of $36.41 billion, a price-to-earnings ratio of 17.51 and a beta of 1.07.
Several large investors have recently added to or reduced their stakes in INFY. Allianz Asset Management AG increased its stake in Infosys by 21.7% in the second quarter. Allianz Asset Management AG now owns 2,304,452 shares of the company’s stock valued at $41,129,000 after buying an additional 411,487 shares during the period. State Street Corp increased its stake in Infosys by 5.0% in the second quarter. State Street Corp now owns 7,055,356 shares of the company’s stock valued at $125,938,000 after buying an additional 333,037 shares during the period. Pictet Asset Management Ltd. increased its stake in Infosys by 99.8% in the second quarter. Pictet Asset Management Ltd. now owns 514,425 shares of the company’s stock valued at $10,000,000 after buying an additional 257,000 shares during the period. Raymond James & Associates increased its stake in Infosys by 949.2% in the second quarter. Raymond James & Associates now owns 264,538 shares of the company’s stock valued at $4,722,000 after buying an additional 239,324 shares during the period. Finally, Sei Investments Co. increased its stake in Infosys by 21.0% in the second quarter. Sei Investments Co. now owns 1,044,727 shares of the company’s stock valued at $18,648,000 after buying an additional 181,606 shares during the period. 17.61% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on INFY shares. Zacks Investment Research upgraded Infosys from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, June 17th. Pacific Crest started coverage on Infosys in a research note on Tuesday, July 12th. They issued a “sector weight” rating on the stock. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Infosys in a research note on Friday, July 15th. Credit Suisse Group AG lowered Infosys from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $15.71 to $16.81 in a research note on Monday, July 18th. Finally, Nomura lowered Infosys from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Infosys has an average rating of “Hold” and an average 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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