Wall Street brokerages expect that Oracle Co. (NYSE:ORCL) will report $9.53 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Oracle’s earnings. The lowest sales estimate is $9.48 billion and the highest is $9.70 billion. Oracle reported sales of $9.63 billion during the same quarter last year, which indicates a negative year over year growth rate of 1%. The business is expected to announce its next earnings report after the market closes on Thursday, December 13th.
On average, analysts expect that Oracle will report full year sales of $40.03 billion for the current fiscal year, with estimates ranging from $39.65 billion to $40.48 billion. For the next financial year, analysts forecast that the business will report sales of $41.26 billion, with estimates ranging from $40.64 billion to $41.85 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Oracle.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The business had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. During the same period in the previous year, the business posted $0.62 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis.
ORCL has been the subject of several research reports. Nomura set a $58.00 price target on shares of Oracle and gave the company a “buy” rating in a report on Tuesday, September 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Oracle in a report on Tuesday, September 18th. Goldman Sachs Group reissued a “buy” rating and set a $55.00 target price on shares of Oracle in a research note on Tuesday, September 18th. KeyCorp reissued a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Finally, Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Seventeen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $53.71.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $47.26, for a total value of $177,225.00. Following the completion of the sale, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,321,814.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the sale, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,946 shares of company stock valued at $7,257,365. Company insiders own 32.00% of the company’s stock.
Several large investors have recently modified their holdings of the company. Godshalk Welsh Capital Management Inc. raised its holdings in shares of Oracle by 6.1% in the 3rd quarter. Godshalk Welsh Capital Management Inc. now owns 31,400 shares of the enterprise software provider’s stock worth $1,619,000 after purchasing an additional 1,800 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Oracle in the 2nd quarter worth approximately $218,896,000. Thompson Siegel & Walmsley LLC raised its holdings in shares of Oracle by 2.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock worth $13,426,000 after purchasing an additional 6,366 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Oracle by 1,874.8% in the 3rd quarter. Trexquant Investment LP now owns 100,219 shares of the enterprise software provider’s stock worth $5,167,000 after purchasing an additional 95,144 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Oracle by 76.8% in the 2nd quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock worth $21,278,000 after purchasing an additional 209,853 shares in the last quarter. 50.97% of the stock is owned by institutional investors.
NYSE ORCL opened at $46.00 on Friday. Oracle has a one year low of $42.57 and a one year high of $53.48. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $201.81 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11.
Oracle announced that its Board of Directors has authorized a share repurchase program on Monday, September 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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