$9.79 Billion in Sales Expected for Oracle Corporation (ORCL) This Quarter
Equities analysts expect that Oracle Corporation (NYSE:ORCL) will report $9.79 billion in sales for the current quarter, Zacks reports. Ten analysts have issued estimates for Oracle’s earnings, with the lowest sales estimate coming in at $9.72 billion and the highest estimate coming in at $9.84 billion. Oracle posted sales of $9.27 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The company is expected to announce its next quarterly earnings report on Wednesday, March 21st.
On average, analysts expect that Oracle will report full year sales of $9.79 billion for the current fiscal year, with estimates ranging from $39.46 billion to $40.10 billion. For the next financial year, analysts expect that the company will report sales of $41.21 billion per share, with estimates ranging from $40.60 billion to $42.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Oracle.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. Oracle’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS.
In related news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value of $183,112.50. Following the sale, the director now owns 18,125 shares in the company, valued at approximately $885,043.75. The disclosure for this sale can be found here. Insiders have sold a total of 111,250 shares of company stock worth $5,306,238 over the last ninety days. Insiders own 29.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its position in Oracle by 6,353.4% in the 1st quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after acquiring an additional 18,351,920 shares during the last quarter. BT Investment Management Ltd bought a new position in Oracle in the 2nd quarter valued at $459,738,000. Harris Associates L P grew its position in Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares during the last quarter. FMR LLC grew its position in shares of Oracle by 24.8% during the 2nd quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after buying an additional 6,577,297 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Oracle by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after buying an additional 5,270,359 shares in the last quarter. Institutional investors own 57.89% of the company’s stock.
Oracle (NYSE ORCL) traded down $0.65 on Wednesday, hitting $46.63. The stock had a trading volume of 25,380,000 shares, compared to its average volume of 17,564,801. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. The stock has a market cap of $199,120.00, a price-to-earnings ratio of 20.01, a PEG ratio of 1.80 and a beta of 1.05. Oracle has a 12-month low of $38.30 and a 12-month high of $53.14.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.63%. Oracle’s payout ratio is 32.62%.
Oracle declared that its board has authorized a stock buyback program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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