Analysts Anticipate Infosys Ltd (NYSE:INFY) Will Announce Quarterly Sales of $3.09 Billion

Analysts expect Infosys Ltd (NYSE:INFY) to report $3.09 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Infosys’ earnings, with estimates ranging from $3.02 billion to $3.22 billion. Infosys posted sales of $2.83 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The business is scheduled to report its next quarterly earnings results on Friday, July 12th.

On average, analysts expect that Infosys will report full year sales of $12.84 billion for the current year, with estimates ranging from $12.73 billion to $13.28 billion. For the next year, analysts anticipate that the company will post sales of $13.92 billion, with estimates ranging from $13.66 billion to $14.62 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Infosys.

Infosys (NYSE:INFY) last released its quarterly earnings data on Friday, April 12th. The technology company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Infosys had a return on equity of 25.41% and a net margin of 18.62%. During the same period last year, the company posted $0.13 EPS.

Several brokerages have recently issued reports on INFY. Credit Suisse Group lowered shares of Infosys from a “neutral” rating to an “underperform” rating in a report on Monday, April 15th. Investec lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Monday, April 15th. Zacks Investment Research lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Wells Fargo & Co set a $12.00 target price on shares of Infosys and gave the stock a “hold” rating in a research note on Friday, May 31st. Finally, HSBC lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.36.

Shares of INFY stock traded down $0.04 on Friday, hitting $10.80. The stock had a trading volume of 7,234,831 shares, compared to its average volume of 9,915,087. Infosys has a twelve month low of $8.85 and a twelve month high of $11.38. The firm has a market capitalization of $47.14 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.04 and a beta of 0.53.

The business also recently announced a dividend, which will be paid on Friday, June 14th. Investors of record on Friday, June 14th will be paid a $0.14 dividend. The ex-dividend date is Thursday, June 13th. This is a positive change from Infosys’s previous dividend of $0.05. Infosys’s dividend payout ratio is presently 31.48%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in shares of Infosys by 491.3% during the first quarter. Advisory Services Network LLC now owns 24,999 shares of the technology company’s stock valued at $273,000 after purchasing an additional 20,771 shares during the period. FMR LLC boosted its stake in shares of Infosys by 46,711,314.8% during the first quarter. FMR LLC now owns 25,224,164 shares of the technology company’s stock valued at $275,699,000 after purchasing an additional 25,224,110 shares during the period. Jane Street Group LLC purchased a new stake in shares of Infosys during the first quarter valued at $2,444,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Infosys during the first quarter valued at $358,000. Finally, HighTower Advisors LLC boosted its stake in shares of Infosys by 71.8% during the first quarter. HighTower Advisors LLC now owns 185,792 shares of the technology company’s stock valued at $2,034,000 after purchasing an additional 77,638 shares during the period. 17.80% of the stock is owned by hedge funds and other institutional investors.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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