Oracle Co. (NYSE:ORCL) – Analysts at Wedbush issued their FY2018 earnings estimates for shares of Oracle in a note issued to investors on Tuesday. Wedbush analyst S. Koenig forecasts that the enterprise software provider will post earnings of $2.81 per share for the year. Wedbush has a “Outperform” rating and a $55.00 price target on the stock. Wedbush also issued estimates for Oracle’s Q4 2018 earnings at $0.89 EPS, Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $3.16 EPS and FY2020 earnings at $3.47 EPS.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.11. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year.
A number of other analysts also recently weighed in on the company. TheStreet downgraded Oracle from a “b+” rating to a “c+” rating in a research note on Monday. JPMorgan Chase & Co. reiterated a “buy” rating and set a $55.00 target price on shares of Oracle in a research report on Tuesday. Nomura downgraded Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday. Credit Suisse Group decreased their target price on Oracle from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Oracle in a research report on Tuesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $56.17.
Shares of Oracle (NYSE ORCL) opened at $45.89 on Friday. The company has a quick ratio of 5.04, a current ratio of 4.33 and a debt-to-equity ratio of 1.16. Oracle has a 12 month low of $43.60 and a 12 month high of $53.48. The firm has a market capitalization of $194,644.09, a P/E ratio of 55.96, a P/E/G ratio of 1.78 and a beta of 1.05.
Large investors have recently made changes to their positions in the business. Strategy Asset Managers LLC increased its stake in Oracle by 22.3% during the third quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock worth $12,443,000 after acquiring an additional 46,866 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Oracle during the second quarter worth about $459,738,000. CIBC World Markets Inc. increased its stake in Oracle by 51.3% during the second quarter. CIBC World Markets Inc. now owns 231,515 shares of the enterprise software provider’s stock worth $11,608,000 after acquiring an additional 78,482 shares during the last quarter. Polen Capital Management LLC increased its stake in Oracle by 7.3% during the second quarter. Polen Capital Management LLC now owns 12,620,261 shares of the enterprise software provider’s stock worth $632,780,000 after acquiring an additional 854,240 shares during the last quarter. Finally, Israel Discount Bank of New York increased its stake in Oracle by 0.5% during the second quarter. Israel Discount Bank of New York now owns 18,025 shares of the enterprise software provider’s stock worth $904,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 57.93% of the company’s stock.
In related news, insider Thomas Kurian sold 1,700,000 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the transaction, the insider now directly owns 1,522,983 shares in the company, valued at $76,590,815.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $52.19, for a total value of $195,712.50. Following the completion of the transaction, the director now owns 18,125 shares of the company’s stock, valued at $945,943.75. The disclosure for this sale can be found here. Insiders sold 1,856,250 shares of company stock valued at $93,571,688 over the last quarter. Insiders own 29.00% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.66%. Oracle’s payout ratio is currently 92.68%.
Oracle announced that its Board of Directors has approved a stock buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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