Oracle (NYSE:ORCL) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.87-0.89 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.91.
A number of research firms have commented on ORCL. ValuEngine downgraded shares of Oracle from a buy rating to a hold rating in a research report on Thursday, August 1st. Cowen started coverage on shares of Oracle in a report on Friday, August 16th. They issued a buy rating and a $65.00 price objective for the company. Raymond James raised their price objective on shares of Oracle from $57.00 to $61.00 and gave the company an outperform rating in a research note on Thursday, June 20th. BMO Capital Markets reissued a market perform rating and set a $59.00 target price (up previously from $53.00) on shares of Oracle in a report on Thursday, June 20th. Finally, Wells Fargo & Co upped their target price on Oracle from $60.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $55.14.
Shares of Oracle stock traded up $0.82 on Wednesday, reaching $56.29. 14,416,811 shares of the company were exchanged, compared to its average volume of 13,579,015. The stock has a fifty day moving average price of $54.15 and a 200-day moving average price of $54.46. The firm has a market capitalization of $181.94 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31. Oracle has a fifty-two week low of $42.40 and a fifty-two week high of $60.50.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.18. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $10.93 billion. Oracle had a return on equity of 40.95% and a net margin of 28.06%. Oracle’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. On average, equities analysts anticipate that Oracle will post 3.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.71%. Oracle’s dividend payout ratio is 30.38%.
In other Oracle news, CAO W Corey West sold 50,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.25, for a total value of $2,812,500.00. Following the completion of the sale, the chief accounting officer now owns 85,348 shares in the company, valued at approximately $4,800,825. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark V. Hurd sold 787,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total transaction of $40,792,500.00. Following the completion of the sale, the chief executive officer now owns 1,038,755 shares of the company’s stock, valued at approximately $53,807,509. The disclosure for this sale can be found here. Insiders have sold 2,140,000 shares of company stock worth $117,501,425 over the last three months. 32.00% of the stock is owned by insiders.
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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