Today, WNS (NYSE:WNS) (Holdings) Limited (NYSE:WNS), a global business services provider, announced the release of its unaudited financial results for fiscal years 2024 and 2023. The results were prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) and include detailed reconciliation tables comparing these to previously reported figures under International Financial Reporting Standards (IFRS).
The company, headquartered in Mumbai, India, with principal executive offices in London, UK, and New York, USA, has provided supplementary financial information which highlights the financial performance for the two fiscal years, enabling investors to compare the company's results under the two different accounting standards.
The data released includes earnings, revenue, and other key financial metrics, although specific figures were not disclosed in the summary provided. The full supplementary package, including the reconciliation tables, is attached to the company's current report as Exhibit 99.1 and Exhibit 99.2.
Investors and interested parties are encouraged to review the company's financial statements to gain a better understanding of WNS's performance. The release of these financial results under US GAAP marks a significant step in providing the investment community with a unified and standardized financial perspective of the company's operations.
The information provided is based on a press release statement from WNS (Holdings) Limited, filed with the United States Securities and Exchange Commission on July 09, 2024.
In other recent news, WNS (Holdings) Limited has been recognized as a 'Leader' in the insurance intermediary sector by Everest Group’s PEAK Matrix® assessment for 2024. The assessment acknowledged WNS for its successful digital-led Business Process Management (BPM) solutions, its ability to secure new clients, and its double-digit growth.
The company also announced the appointment of Anil Chintapalli as Executive Officer and Head of Strategic Growth Initiatives, a role that will involve driving company growth and steering mergers and acquisitions.
In addition, WNS has seen adjustments to its stock target from several financial firms.
Baird reduced its price target to $66 but maintained an Outperform rating, influenced by a challenging macroeconomic environment. TD Cowen also lowered their price target for WNS to $64 but maintained a Buy rating, following WNS's conservative growth outlook for fiscal year 2025. Deutsche Bank (ETR:DBKGn) downgraded WNS from Buy to Hold due to concerns about the company's lukewarm revenue growth outlook and anticipated continued weakness in IT services spending.
These recent developments underline the evolving financial landscape for WNS Limited.
InvestingPro Insights
WNS (Holdings) Limited's recent financial results offer a snapshot of the company's performance, but a deeper dive into the metrics can provide investors with a clearer picture. According to InvestingPro data, WNS boasts a market capitalization of $2.37 billion and a P/E ratio of 18.19, which adjusts slightly to 17.58 based on the last twelve months as of Q4 2024. This valuation comes with a high PEG ratio of 3.65, suggesting that the price may be steep relative to the company's earnings growth.
InvestingPro Tips highlight that WNS has been actively engaging in share buybacks, a move that often reflects management's confidence in the company's future performance. Additionally, the company is noted for its high shareholder yield, which is a positive sign for investors looking for returns. However, it's worth noting that WNS does not pay a dividend, focusing instead on reinvesting earnings back into the company or returning value through buybacks.
With a solid revenue growth of 8.09% over the last twelve months as of Q4 2024 and an operating income margin of 14.03%, WNS appears to be in a robust financial position. Analysts are optimistic, predicting profitability for the current year, supported by the fact that WNS has been profitable over the past twelve months.
For those considering an investment in WNS, or for current shareholders looking to deepen their analysis, InvestingPro offers additional insights. There are several more tips available that can help guide investment decisions. Use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription for access to these valuable insights.
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