Oracle Corporation (ORCL) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Oracle Corporation (NYSE:ORCL) issued its quarterly earnings data on Thursday. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02, Bloomberg Earnings reports. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS.
Oracle Corporation (ORCL) traded up 0.11% during mid-day trading on Thursday, reaching $52.86. The company’s stock had a trading volume of 21,820,223 shares. The stock’s 50 day moving average price is $49.91 and its 200 day moving average price is $46.85. The stock has a market capitalization of $218.67 billion, a P/E ratio of 23.92 and a beta of 1.05. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $53.14.
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 paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. Oracle Corporation’s dividend payout ratio is presently 34.55%.
Several equities analysts have recently issued reports on ORCL shares. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Oracle Corporation in a report on Friday, May 19th. Zacks Investment Research cut Oracle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Canaccord Genuity reissued a “buy” rating and issued a $49.00 price objective on shares of Oracle Corporation in a report on Friday, May 26th. OTR Global raised Oracle Corporation to a “positive” rating in a report on Thursday, June 8th. Finally, Goldman Sachs Group, Inc. (The) set a $49.00 price objective on Oracle Corporation and gave the company a “buy” rating in a report on Monday, June 12th. Two 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 company. Oracle Corporation presently has a consensus rating of “Buy” and an average target price of $51.76.
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In other Oracle Corporation news, insider Thomas Kurian sold 750,000 shares of the business’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 transaction, the insider now owns 783,533 shares in the company, valued at approximately $39,537,075.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Chizen sold 206,250 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $49.75, for a total transaction of $10,260,937.50. Following the completion of the transaction, the director now owns 63,985 shares in the company, valued at approximately $3,183,253.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,813,750 shares of company stock valued at $91,393,788. 29.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. North Star Asset Management Inc. lifted its holdings in Oracle Corporation by 4.5% in the 2nd quarter. North Star Asset Management Inc. now owns 127,739 shares of the enterprise software provider’s stock worth $6,404,000 after buying an additional 5,480 shares in the last quarter. Koch Industries Inc. lifted its holdings in Oracle Corporation by 9,000.7% in the 2nd quarter. Koch Industries Inc. now owns 430,190 shares of the enterprise software provider’s stock worth $422,000 after buying an additional 425,463 shares in the last quarter. High Falls Advisors Inc lifted its holdings in Oracle Corporation by 15.7% in the 2nd quarter. High Falls Advisors Inc now owns 7,399 shares of the enterprise software provider’s stock worth $371,000 after buying an additional 1,005 shares in the last quarter. Keel Point LLC lifted its holdings in Oracle Corporation by 0.3% in the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after buying an additional 14 shares in the last quarter. Finally, National Asset Management Inc. lifted its holdings in Oracle Corporation by 7.1% in the 2nd quarter. National Asset Management Inc. now owns 12,364 shares of the enterprise software provider’s stock worth $621,000 after buying an additional 824 shares in the last quarter. Hedge funds and other institutional investors own 58.67% 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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