Zacks: Analysts Expect Oracle Corporation (NYSE:ORCL) Will Announce Quarterly Sales of $9.02 Billion
Brokerages predict that Oracle Corporation (NYSE:ORCL) will post $9.02 billion in sales for the current quarter, Zacks reports. Ten analysts have made estimates for Oracle Corporation’s earnings. The lowest sales estimate is $8.98 billion and the highest is $9.07 billion. Oracle Corporation posted sales of $8.61 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The company is expected to announce its next earnings report on Thursday, September 21st.
On average, analysts expect that Oracle Corporation will report full year sales of $9.02 billion for the current year, with estimates ranging from $38.57 billion to $39.90 billion. For the next financial year, analysts forecast that the firm will report sales of $40.90 billion per share, with estimates ranging from $39.65 billion to $42.40 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Oracle Corporation.
Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The business had revenue of $10.94 billion during the quarter, compared to analyst estimates of $10.45 billion. During the same period in the previous year, the business posted $0.81 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis.
Several research firms have recently weighed in on ORCL. UBS AG reaffirmed a “buy” rating and issued a $52.00 target price (up previously from $48.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. They noted that the move was a valuation call. BMO Capital Markets upped their target price on shares of Oracle Corporation from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, June 22nd. Wedbush raised shares of Oracle Corporation from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $56.00 to $44.00 in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Oracle Corporation in a report on Friday, May 19th. Finally, Royal Bank Of Canada upped their target price on shares of Oracle Corporation from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $50.70.
Oracle Corporation (NYSE ORCL) opened at 49.64 on Tuesday. The firm has a market capitalization of $205.34 billion, a price-to-earnings ratio of 22.46 and a beta of 1.06. The stock has a 50 day moving average of $49.35 and a 200 day moving average of $44.95. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $51.85.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, July 17th. Oracle Corporation’s dividend payout ratio (DPR) is currently 34.55%.
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In related news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $44.57, for a total value of $167,137.50. Following the sale, the director now directly owns 18,125 shares in the company, valued at $807,831.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP W Corey West sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $51.39, for a total value of $7,708,500.00. Following the completion of the sale, the executive vice president now owns 177,988 shares in the company, valued at $9,146,803.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,817,500 shares of company stock worth $91,547,388. Company insiders own 29.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ORCL. Hudock Capital Group LLC boosted its stake in shares of Oracle Corporation 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 during the last quarter. Alpha Windward LLC boosted its stake in shares of Oracle Corporation by 0.3% in the second quarter. Alpha Windward LLC now owns 5,568 shares of the enterprise software provider’s stock valued at $279,000 after buying an additional 19 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in shares of Oracle Corporation by 0.3% in the second quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after buying an additional 24 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in shares of Oracle Corporation 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 during the last quarter. Finally, Partnervest Advisory Services LLC boosted its stake in shares of Oracle Corporation by 0.6% in the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 58.77% of the company’s stock.
Oracle Corporation 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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