Oracle Corp. (ORCL) Issues Q2 Earnings Guidance
Oracle Corp. (NASDAQ:ORCL) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.64-0.69 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.69, Analyst Ratings.Net reports. The company issued revenue guidance of -1% to +2% (~$9.02-9.30 billion), compared to the consensus revenue estimate of $9.42 billion.
Shares of Oracle Corp. (NASDAQ:ORCL) traded up 1.83% on Wednesday, hitting $33.87. 39,417,844 shares of the company’s stock traded hands. Oracle Corp. has a one year low of $29.52 and a one year high of $36.43. The stock’s 50-day moving average is $32.53 and its 200-day moving average is $32.99. The company has a market cap of $156.8 billion and a price-to-earnings ratio of 14.72. Oracle Corp. also was the recipient of unusually large options trading on Monday. Investors purchased 15,755 call options on the stock. This is an increase of approximately 103% compared to the typical volume of 7,774 call options.
Oracle Corp. (NASDAQ:ORCL) last announced its earnings results on Wednesday, September 18th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Oracle Corp. will post $2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 29th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%.
A number of research firms have recently commented on ORCL. Analysts at TheStreet reiterated a buy rating on shares of Oracle Corp. (NASDAQ:ORCL) in a research note to investors on Tuesday. On a related note, analysts at Zacks reiterated a neutral rating on shares of Oracle Corp. (NASDAQ:ORCL) in a research note to investors on Friday, September 13th. They now have a $34.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Oracle Corp. presently has a consensus rating of Buy and a consensus target price of $36.48.
In other Oracle Corp. news, Director Hector Garcia-Molina unloaded 2,500 shares of Oracle Corp. stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $32.89, for a total transaction of $82,225.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Oracle Corporation is a provider of enterprise software and computer hardware products and services. The Company’s software, hardware systems, and services businesses develops, manufactures, markets, hosts and supports database and middleware software, applications software, and hardware systems, with the latter consisting primarily of computer server and storage products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.