Wall Street brokerages predict that Oracle Co. (NYSE:ORCL) will post $9.83 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Oracle’s earnings. The lowest sales estimate is $9.67 billion and the highest is $10.01 billion. Oracle posted sales of $9.62 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, March 12th.
According to Zacks, analysts expect that Oracle will report full-year sales of $40.07 billion for the current year, with estimates ranging from $39.59 billion to $40.73 billion. For the next year, analysts forecast that the company will post sales of $41.08 billion, with estimates ranging from $39.77 billion to $42.73 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Oracle.
Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 12th. The enterprise software provider reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.65 billion. During the same period in the prior year, the company posted $0.80 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year.
ORCL has been the topic of several research reports. Credit Suisse Group set a $62.00 price objective on shares of Oracle and gave the company a “buy” rating in a research report on Wednesday. Sanford C. Bernstein restated a “buy” rating and set a $66.00 price objective on shares of Oracle in a research report on Friday. Monness Crespi & Hardt restated a “hold” rating on shares of Oracle in a research report on Tuesday, September 10th. ValuEngine cut shares of Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus restated a “hold” rating on shares of Oracle in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. Oracle currently has an average rating of “Hold” and a consensus target price of $56.58.
In related news, EVP Dorian Daley sold 50,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at $2,750,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 4,643 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $53.14, for a total transaction of $246,729.02. Following the sale, the director now directly owns 38,562 shares in the company, valued at approximately $2,049,184.68. The disclosure for this sale can be found here. Insiders have sold a total of 76,479 shares of company stock worth $4,223,049 in the last ninety days. Insiders own 36.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Willow Creek Wealth Management Inc. raised its holdings in shares of Oracle by 2.1% during the third quarter. Willow Creek Wealth Management Inc. now owns 8,422 shares of the enterprise software provider’s stock valued at $463,000 after purchasing an additional 177 shares during the last quarter. Monte Financial Group LLC raised its holdings in shares of Oracle by 1.9% during the third quarter. Monte Financial Group LLC now owns 9,862 shares of the enterprise software provider’s stock valued at $543,000 after purchasing an additional 182 shares during the last quarter. First Command Financial Services Inc. raised its holdings in shares of Oracle by 2.7% during the third quarter. First Command Financial Services Inc. now owns 7,102 shares of the enterprise software provider’s stock valued at $391,000 after purchasing an additional 187 shares during the last quarter. Slow Capital Inc. raised its holdings in shares of Oracle by 1.1% during the second quarter. Slow Capital Inc. now owns 17,403 shares of the enterprise software provider’s stock valued at $991,000 after purchasing an additional 197 shares during the last quarter. Finally, Meristem Family Wealth LLC raised its holdings in shares of Oracle by 4.6% during the second quarter. Meristem Family Wealth LLC now owns 4,478 shares of the enterprise software provider’s stock valued at $255,000 after purchasing an additional 198 shares during the last quarter. 51.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oracle stock traded down $1.96 on Monday, hitting $54.51. 21,158,001 shares of the company traded hands, compared to its average volume of 9,048,991. The firm’s 50-day simple moving average is $55.63 and its 200 day simple moving average is $55.06. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.67. The company has a market cap of $184.84 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.67 and a beta of 1.14. Oracle has a 12-month low of $42.40 and a 12-month high of $60.50.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.76%. Oracle’s payout ratio is 30.38%.
Oracle announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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