Equities research analysts expect that Oracle Co. (NYSE:ORCL) will announce sales of $9.15 billion for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Oracle’s earnings. The lowest sales estimate is $8.99 billion and the highest is $9.22 billion. Oracle reported sales of $9.22 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The company is scheduled to report its next earnings report on Wednesday, September 9th.
On average, analysts expect that Oracle will report full-year sales of $39.16 billion for the current year, with estimates ranging from $38.66 billion to $39.59 billion. For the next year, analysts forecast that the firm will report sales of $39.85 billion, with estimates ranging from $39.01 billion to $40.62 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Oracle.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Tuesday, June 16th. The enterprise software provider reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Oracle had a net margin of 25.94% and a return on equity of 72.76%. The company had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.72 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The firm’s revenue was down 6.3% on a year-over-year basis.
Several equities research analysts have weighed in on ORCL shares. Jefferies Financial Group reissued a “hold” rating and set a $55.00 price target on shares of Oracle in a research report on Wednesday, June 17th. Wedbush reissued a “neutral” rating and set a $52.00 price target (up previously from $48.00) on shares of Oracle in a research report on Thursday, June 11th. Citigroup increased their price target on shares of Oracle from $45.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Needham & Company LLC started coverage on shares of Oracle in a research report on Monday, June 15th. They set a “hold” rating for the company. Finally, Credit Suisse Group upped their price objective on shares of Oracle from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $55.16.
Shares of ORCL opened at $55.27 on Wednesday. The stock has a market capitalization of $168.04 billion, a P/E ratio of 17.83, a PEG ratio of 1.37 and a beta of 0.89. The company has a quick ratio of 2.12, a current ratio of 3.03 and a debt-to-equity ratio of 5.44. The firm has a fifty day simple moving average of $53.38 and a two-hundred day simple moving average of $52.54. Oracle has a twelve month low of $39.71 and a twelve month high of $60.50.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Wednesday, July 15th 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 1.74%. The ex-dividend date is Tuesday, July 14th. Oracle’s payout ratio is presently 27.75%.
Oracle declared that its board has initiated a share repurchase program on Thursday, March 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to buy up to 9.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $54.08, for a total value of $21,632,000.00. Following the transaction, the insider now owns 400,000 shares of the company’s stock, valued at $21,632,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Safra Catz sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $51.73, for a total transaction of $51,730,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,368,592 shares in the company, valued at approximately $122,527,264.16. The disclosure for this sale can be found here. In the last three months, insiders sold 4,900,000 shares of company stock worth $264,854,000. 36.60% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of ORCL. First National Bank of South Miami lifted its holdings in Oracle by 104.6% during the fourth quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock valued at $26,000 after purchasing an additional 250 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in Oracle during the fourth quarter valued at approximately $26,000. Balentine LLC purchased a new position in Oracle during the first quarter valued at approximately $31,000. Solstein Capital LLC purchased a new position in Oracle during the fourth quarter valued at approximately $33,000. Finally, ERTS Wealth Advisors LLC purchased a new position in Oracle during the fourth quarter valued at approximately $36,000. 48.14% of the stock is currently owned by institutional investors and hedge funds.
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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