Oracle Corporation (ORCL) Releases Q2 Earnings Guidance
Oracle Corporation (NYSE:ORCL) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.64-0.68 for the period, compared to the Thomson Reuters consensus estimate of $0.68. The company issued revenue guidance of $9.215-9.396 billion, compared to the consensus revenue estimate of $9.49 billion.
Shares of Oracle Corporation (ORCL) traded up 0.11% during midday trading on Thursday, reaching $52.86. 21,901,610 shares of the company were exchanged. The company has a market capitalization of $218.67 billion, a PE ratio of 23.92 and a beta of 1.05. The firm’s 50 day moving average is $50.01 and its 200-day moving average is $46.93. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14.
Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same period in the previous year, the business earned $0.55 earnings per share. Oracle Corporation’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.44%. Oracle Corporation’s dividend payout ratio (DPR) is presently 34.55%.
Several brokerages have commented on ORCL. Zacks Investment Research upgraded shares of Oracle Corporation from a hold rating to a buy rating and set a $59.00 price target on the stock in a research report on Thursday. Drexel Hamilton reiterated a buy rating and issued a $62.00 price target on shares of Oracle Corporation in a research report on Thursday. Royal Bank Of Canada boosted their price target on shares of Oracle Corporation from $53.00 to $56.00 and gave the stock an outperform rating in a research report on Tuesday. BidaskClub upgraded shares of Oracle Corporation from a hold rating to a buy rating in a research report on Tuesday. Finally, Vetr cut shares of Oracle Corporation from a sell rating to a strong sell rating and set a $46.58 price target on the stock. in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $51.76.
In other Oracle Corporation news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $48.86, for a total value of $183,225.00. Following the sale, the director now directly owns 18,125 shares in the company, valued at $885,587.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Kurian sold 750,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares in the company, valued at $39,537,075.18. The disclosure for this sale can be found here. Insiders sold 1,813,750 shares of company stock valued at $91,393,788 over the last 90 days. 29.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. North Star Asset Management Inc. grew its position in Oracle Corporation by 4.5% in the second quarter. North Star Asset Management Inc. now owns 127,739 shares of the enterprise software provider’s stock valued at $6,404,000 after acquiring an additional 5,480 shares during the period. Koch Industries Inc. grew its position in Oracle Corporation by 9,000.7% in the second quarter. Koch Industries Inc. now owns 430,190 shares of the enterprise software provider’s stock valued at $422,000 after acquiring an additional 425,463 shares during the period. High Falls Advisors Inc grew its position in Oracle Corporation by 15.7% in the second quarter. High Falls Advisors Inc now owns 7,399 shares of the enterprise software provider’s stock valued at $371,000 after acquiring an additional 1,005 shares during the period. Keel Point LLC grew its position in Oracle Corporation by 0.3% in the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after acquiring an additional 14 shares during the period. Finally, National Asset Management Inc. grew its position in Oracle Corporation by 7.1% in the second quarter. National Asset Management Inc. now owns 12,364 shares of the enterprise software provider’s stock valued at $621,000 after acquiring an additional 824 shares during the period. Hedge funds and other institutional investors own 58.67% of the company’s stock.
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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