3 Stocks Pushing The Technology Sector Lower
- The revenue growth greatly exceeded the industry average of 16.4%. Since the same quarter one year prior, revenues rose by 17.4%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- WIT's debt-to-equity ratio is very low at 0.15 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, WIT has a quick ratio of 1.91, which demonstrates the ability of the company to cover short-term liquidity needs.
- WIPRO LTD has improved earnings per share by 49.5% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, WIPRO LTD increased its bottom line by earning $0.53 versus $0.41 in the prior year. This year, the market expects an improvement in earnings ($0.56 versus $0.53).
- The net income growth from the same quarter one year ago has significantly exceeded that of the IT Services industry average, but is less than that of the S&P 500. The net income increased by 23.9% when compared to the same quarter one year prior, going from $322.65 million to $399.85 million.
- Powered by its strong earnings growth of 49.53% and other important driving factors, this stock has surged by 52.94% over the past year, outperforming the rise in the S&P 500 Index during the same period. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
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