Analysts Expect Oracle Co. (ORCL) Will Post Quarterly Sales of $10.45 Billion
Equities analysts forecast that Oracle Co. (NYSE:ORCL) will report sales of $10.45 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Oracle’s earnings. The lowest sales estimate is $10.36 billion and the highest is $10.52 billion. Oracle reported sales of $10.6 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.4%. The company is scheduled to announce its next earnings report on Thursday, June 15th.
On average, analysts expect that Oracle will report full-year sales of $10.45 billion for the current year, with estimates ranging from $37.32 billion to $37.47 billion. For the next year, analysts forecast that the company will report sales of $38.51 billion per share, with estimates ranging from $37.56 billion to $38.96 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Oracle.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, March 15th. The enterprise software provider reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Oracle had a net margin of 23.69% and a return on equity of 21.33%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
ORCL has been the subject of a number of recent analyst reports. Vetr raised Oracle from a “buy” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research note on Monday, January 30th. Bank of America Corp increased their target price on Oracle to $54.00 in a research note on Thursday, March 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 price target on shares of Oracle in a research report on Friday, February 24th. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, May 16th. Finally, TheStreet raised Oracle from a “c+” rating to a “b” rating in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.42.
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Oracle (NYSE:ORCL) opened at 45.26 on Friday. Oracle has a one year low of $37.62 and a one year high of $46.99. The firm has a 50 day moving average of $44.76 and a 200 day moving average of $41.95. The firm has a market capitalization of $186.23 billion, a PE ratio of 21.41 and a beta of 1.14.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $42.86, for a total value of $160,725.00. Following the completion of the sale, the director now directly owns 8,281 shares in the company, valued at $354,923.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Henley sold 400,000 shares of Oracle stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $46.61, for a total value of $18,644,000.00. Following the completion of the sale, the insider now owns 400,000 shares of the company’s stock, valued at $18,644,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,834,841 shares of company stock valued at $309,094,949. 29.00% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in ORCL. Hudock Capital Group LLC increased its stake in Oracle by 0.3% in the first quarter. Hudock Capital Group LLC now owns 3,997 shares of the enterprise software provider’s stock valued at $178,000 after buying an additional 10 shares in the last quarter. Kernodle & Katon Asset Management Group LLC increased its stake in Oracle by 0.6% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 4,226 shares of the enterprise software provider’s stock valued at $166,000 after buying an additional 25 shares in the last quarter. Zions Bancorporation increased its stake in Oracle by 0.9% in the fourth quarter. Zions Bancorporation now owns 3,934 shares of the enterprise software provider’s stock valued at $152,000 after buying an additional 36 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its stake in Oracle by 0.7% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,771 shares of the enterprise software provider’s stock valued at $257,000 after buying an additional 38 shares in the last quarter. Finally, Delta Asset Management LLC TN increased its stake in Oracle by 0.6% in the first quarter. Delta Asset Management LLC TN now owns 7,516 shares of the enterprise software provider’s stock valued at $335,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 57.95% of the company’s stock.
Oracle Company Profile
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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