NEW YORK (TheStreet) -- Big companies start reporting earnings next week, the least of which are tech firms, whose fortunes could revive the moribund equity markets.
Infosys Ltd. (ADR) (INFY)
Infosys designs technology-enabled business services. The company was founded in 1981 and is headquartered in Bangalore, India. Infosys trades an average of 2 million shares per day and has a market cap of $26.4 billion.
Infosys is expected to report good first-quarter earnings after the market closes on July 11. The consensus estimate is currently 73 cents a share, an improvement of 6 cents (8.2%) from 67 cents during the same period last year.Analyst opinion is mixed. Most don't think a "buy" or "sell" is warranted. Right now, INFY has one "buy" recommendation out of 17 analysts covering the company, 15 "holds," and one "sell." Shareholders have not been rewarded for their patience, as the stock has fallen 30.7% in the past year. The average analyst target price for INFY is $50.73. The trailing 12-month price-to-earnings ratio is 15.4, and the mean fiscal year estimate price-to-earnings ratio is 14.94, based on earnings of $3.08 per share this year. Investors are receiving 65 cents in dividends for a yield of 1.42%. The stock has risen 2.45% in the past month, but has still fallen 21% since the latest earnings release April 13. (On that day, the stock plunged 13.5%.) It's not far off the 52-week low of $42.10 a share. For the same fiscal period year-over-year, Infosys revenue has improved to $6.04 billion compared with $4.80 billion. Earnings rose year-over-year to $1.50 billion from $1.31 billion.
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