Brokerages Anticipate Oracle Corporation (ORCL) Will Post Quarterly Sales of $9.02 Billion
Wall Street analysts expect Oracle Corporation (NYSE:ORCL) to announce $9.02 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Oracle Corporation’s earnings, with the highest sales estimate coming in at $9.07 billion and the lowest estimate coming in at $8.98 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 scheduled to report its next earnings results after the market closes on Thursday, September 14th.
According to Zacks, analysts expect that Oracle Corporation will report full-year sales of $9.02 billion for the current financial year, with estimates ranging from $38.57 billion to $39.90 billion. For the next fiscal year, analysts forecast that the business will report sales of $40.90 billion per share, with estimates ranging from $39.65 billion to $42.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Oracle Corporation.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. The firm had revenue of $10.94 billion during the quarter, compared to analyst estimates of $10.45 billion. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 EPS.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Thursday. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 price objective on shares of Oracle Corporation in a report on Thursday. Royal Bank Of Canada increased their price objective on shares of Oracle Corporation from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday. BidaskClub raised shares of Oracle Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Vetr lowered shares of Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 price objective for the company. in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have given a buy rating to the company’s stock. Oracle Corporation currently has a consensus rating of “Buy” and a consensus target price of $51.76.
Shares of Oracle Corporation (NYSE ORCL) traded down 0.32% during midday trading on Thursday, hitting $52.63. 7,584,018 shares of the stock were exchanged. The firm has a market cap of $217.71 billion, a PE ratio of 23.81 and a beta of 1.05. The firm’s 50-day moving average is $49.91 and its 200 day moving average is $46.85. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14.
In other news, Director Michael J. Boskin sold 150,000 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $50.69, for a total value of $7,603,500.00. Following the transaction, the director now owns 99,454 shares of the company’s stock, valued at approximately $5,041,323.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 200,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.94, for a total value of $10,188,000.00. Following the completion of the transaction, the executive vice president now directly owns 130,977 shares in the company, valued at approximately $6,671,968.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,813,750 shares of company stock worth $91,393,788. Corporate insiders own 29.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC lifted its stake in Oracle Corporation by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares in the last quarter. Burt Wealth Advisors lifted its stake in Oracle Corporation by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in Oracle Corporation by 1,150.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock worth $112,000 after acquiring an additional 2,300 shares in the last quarter. TrimTabs Asset Management LLC lifted its stake in Oracle Corporation by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock worth $120,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Baystate Wealth Management LLC lifted its stake in Oracle Corporation by 9.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock worth $123,000 after acquiring an additional 206 shares in the last quarter. 58.67% of the stock is currently owned by hedge funds and other institutional investors.
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About Oracle Corporation
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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