Wall Street brokerages expect that Oracle Co. (NYSE:ORCL) will report sales of $9.29 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Oracle’s earnings, with the lowest sales estimate coming in at $9.26 billion and the highest estimate coming in at $9.36 billion. Oracle posted sales of $9.20 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The company is expected to issue its next quarterly earnings report on Monday, September 16th.
On average, analysts expect that Oracle will report full-year sales of $40.43 billion for the current fiscal year, with estimates ranging from $39.77 billion to $40.73 billion. For the next year, analysts forecast that the company will post sales of $41.60 billion, with estimates ranging from $40.33 billion to $42.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Oracle.
Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $10.93 billion. During the same period last year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year.
A number of analysts recently commented on ORCL shares. ValuEngine cut Oracle from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley boosted their target price on Oracle from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 21st. UBS Group reiterated a “neutral” rating and set a $54.00 target price on shares of Oracle in a report on Friday, June 14th. Wedbush reiterated a “neutral” rating and set a $55.00 target price (down previously from $55.92) on shares of Oracle in a report on Thursday, June 20th. Finally, Wells Fargo & Co boosted their target price on Oracle from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and ten have issued a buy rating to the company’s stock. Oracle currently has a consensus rating of “Hold” and an average price target of $55.14.
Shares of NYSE:ORCL traded down $0.05 during midday trading on Friday, hitting $53.19. 6,605,076 shares of the stock were exchanged, compared to its average volume of 13,728,106. The stock has a market cap of $179.70 billion, a P/E ratio of 16.83, a PEG ratio of 1.57 and a beta of 1.15. 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 twelve month low of $42.40 and a twelve month high of $60.50. The company has a 50 day moving average price of $56.71 and a 200-day moving average price of $54.31.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were paid a $0.24 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.80%. Oracle’s dividend payout ratio is presently 30.38%.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.92, for a total value of $5,692,000.00. Following the transaction, the executive vice president now directly owns 177,919 shares in the company, valued at $10,127,149.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO W Corey West sold 50,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the completion of the transaction, the chief accounting officer now owns 85,348 shares in the company, valued at $4,800,825. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,352,500 shares of company stock worth $76,708,925. Insiders own 32.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Magellan Asset Management Ltd increased its position in Oracle by 0.5% during the 4th quarter. Magellan Asset Management Ltd now owns 30,936,949 shares of the enterprise software provider’s stock valued at $1,396,803,000 after purchasing an additional 148,974 shares during the period. Norges Bank acquired a new position in Oracle during the fourth quarter worth $1,235,719,000. Longview Partners Guernsey LTD raised its position in Oracle by 16.9% during the second quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock worth $1,267,227,000 after acquiring an additional 3,220,296 shares during the period. Clearbridge Investments LLC raised its position in Oracle by 1.7% during the first quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock worth $1,115,989,000 after acquiring an additional 345,982 shares during the period. Finally, Nordea Investment Management AB raised its position in Oracle by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 15,877,915 shares of the enterprise software provider’s stock worth $716,891,000 after acquiring an additional 626,766 shares during the period. 53.71% of the stock is owned by hedge funds and other institutional investors.
Oracle Company Profile
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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