Oracle (ORCL) Announces Quarterly Earnings, Misses Estimates By $0.03 EPS
Oracle (NASDAQ:ORCL) released its earnings data on Thursday. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.03, American Banking and Market News reports. The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $11.48 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis.
In other Oracle news, Director Hector Garcia-Molina sold 1,250 shares of the stock on the open market in a transaction dated Monday, June 16th. The shares were sold at an average price of $42.00, for a total value of $52,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Oracle (NASDAQ:ORCL) traded down 0.70% during mid-day trading on Thursday, hitting $42.51. 26,352,148 shares of the company’s stock traded hands. Oracle has a 52-week low of $29.86 and a 52-week high of $42.88. The stock’s 50-day moving average is $41.76 and its 200-day moving average is $38.94. The company has a market cap of $189.5 billion and a price-to-earnings ratio of 17.90. Oracle also was the target of unusually large options trading on Tuesday. Stock traders purchased 15,471 call options on the stock. This is an increase of 108% compared to the average daily volume of 7,424 call options.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 30th. Investors of record on Wednesday, July 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.13%.
A number of research firms have recently commented on ORCL. Analysts at Canaccord Genuity raised their price target on shares of Oracle from $43.00 to $48.00 in a research note on Tuesday. They now have a “buy” rating on the stock. On the ratings front, analysts at Barclays reiterated an “overweight” rating on shares of Oracle in a research note on Monday. They now have a $47.00 price target on the stock, up previously from $44.00. Finally, analysts at RBC Capital raised their price target on shares of Oracle from $35.00 to $40.00 in a research note on Monday. They now have a “sector perform” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seventeen have given a buy rating to the stock. Oracle presently has an average rating of “Buy” and an average price target of $42.52.
Oracle Corporation is a provider of enterprise software and computer hardware products and services. The Company provides cloud services as well as software and hardware products to other cloud service providers, both public and private.