Wall Street brokerages predict that Oracle Co. (NYSE:ORCL) will announce sales of $11.16 billion for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Oracle’s earnings. The lowest sales estimate is $10.93 billion and the highest is $11.33 billion. Oracle reported sales of $11.26 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.9%. The firm is expected to issue its next quarterly earnings results on Tuesday, June 18th.
On average, analysts expect that Oracle will report full year sales of $39.52 billion for the current financial year, with estimates ranging from $39.20 billion to $39.74 billion. For the next financial year, analysts anticipate that the firm will report sales of $40.52 billion, with estimates ranging from $39.97 billion to $41.31 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Oracle.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, March 14th. The enterprise software provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Oracle had a return on equity of 29.93% and a net margin of 10.01%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS.
Several equities analysts have issued reports on the company. Nomura reiterated a “reduce” rating and set a $42.00 target price (down previously from $53.00) on shares of Oracle in a research report on Monday. Zacks Investment Research cut Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, December 11th. Royal Bank of Canada boosted their target price on Oracle to $57.00 and gave the stock a “sector perform” rating in a research report on Friday. Raymond James boosted their target price on Oracle from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, UBS Group boosted their target price on Oracle to $54.00 and gave the stock a “neutral” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.77.
NYSE ORCL traded down $0.11 on Friday, hitting $52.94. 43,240,768 shares of the company’s stock were exchanged, compared to its average volume of 15,655,714. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 1.66. Oracle has a fifty-two week low of $42.40 and a fifty-two week high of $53.47. The stock has a market capitalization of $218.57 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.75 and a beta of 1.08.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, April 11th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.81%. This is a positive change from Oracle’s previous quarterly dividend of $0.19. Oracle’s dividend payout ratio is presently 26.95%.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $51.51, for a total transaction of $193,162.50. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,440,683.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Dorian Daley sold 25,000 shares of the stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $45.00, for a total value of $1,125,000.00. Following the transaction, the executive vice president now directly owns 102,919 shares in the company, valued at approximately $4,631,355. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,552 shares of company stock worth $1,945,486. 32.00% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Landmark Financial Advisors LLC boosted its position in Oracle by 2.1% in the 4th quarter. Landmark Financial Advisors LLC now owns 9,613 shares of the enterprise software provider’s stock valued at $434,000 after buying an additional 200 shares during the last quarter. Moloney Securities Asset Management LLC boosted its position in Oracle by 4.7% in the 4th quarter. Moloney Securities Asset Management LLC now owns 5,007 shares of the enterprise software provider’s stock valued at $226,000 after buying an additional 223 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Oracle by 0.7% in the 4th quarter. Quadrant Capital Group LLC now owns 34,344 shares of the enterprise software provider’s stock valued at $1,528,000 after buying an additional 230 shares during the last quarter. Patten Group Inc. boosted its position in Oracle by 17.1% in the 4th quarter. Patten Group Inc. now owns 1,591 shares of the enterprise software provider’s stock valued at $72,000 after buying an additional 232 shares during the last quarter. Finally, Arrow Financial Corp boosted its position in Oracle by 0.5% in the 4th quarter. Arrow Financial Corp now owns 51,262 shares of the enterprise software provider’s stock valued at $2,315,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 46.80% of the company’s stock.
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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