Wall Street brokerages forecast that Oracle Co. (NYSE:ORCL – Get Rating) will post $11.65 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Oracle’s earnings, with estimates ranging from $11.32 billion to $11.75 billion. Oracle posted sales of $11.23 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Oracle will report full year sales of $42.24 billion for the current year, with estimates ranging from $41.92 billion to $42.34 billion. For the next year, analysts expect that the firm will report sales of $44.42 billion, with estimates ranging from $43.10 billion to $45.76 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Oracle.
Oracle (NYSE:ORCL – Get Rating) last issued its quarterly earnings results on Thursday, March 10th. The enterprise software provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). The business had revenue of $10.51 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Oracle had a negative return on equity of 383.80% and a net margin of 18.08%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS.
Several brokerages have recently issued reports on ORCL. Wolfe Research dropped their target price on shares of Oracle from $105.00 to $83.00 in a research report on Friday, March 11th. Exane BNP Paribas upgraded Oracle from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 29th. Jefferies Financial Group set a $80.00 target price on Oracle in a research report on Tuesday, March 15th. Barclays set a $82.00 target price on shares of Oracle in a research note on Friday, March 11th. Finally, Stifel Nicolaus lowered their price target on shares of Oracle from $87.00 to $83.00 in a research report on Friday, March 11th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $93.09.
Oracle stock opened at $79.45 on Friday. The stock has a market capitalization of $211.99 billion, a P/E ratio of 30.44, a P/E/G ratio of 2.49 and a beta of 0.84. The company’s fifty day moving average price is $79.27 and its 200 day moving average price is $87.02. Oracle has a 1 year low of $70.23 and a 1 year high of $106.34.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 21st. Investors of record on Friday, April 8th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, April 7th. Oracle’s payout ratio is 49.04%.
In related news, Director Charles W. Moorman bought 15,000 shares of the stock in a transaction that occurred on Thursday, January 20th. The stock was purchased at an average cost of $83.76 per share, with a total value of $1,256,400.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Renee Jo James sold 6,000 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $84.11, for a total value of $504,660.00. Following the completion of the sale, the director now directly owns 41,886 shares in the company, valued at approximately $3,523,031.46. The disclosure for this sale can be found here. Insiders own 39.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ORCL. Stratos Wealth Partners LTD. raised its holdings in shares of Oracle by 3.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 88,837 shares of the enterprise software provider’s stock valued at $7,748,000 after purchasing an additional 3,345 shares in the last quarter. Cetera Advisors LLC raised its stake in Oracle by 14.6% in the third quarter. Cetera Advisors LLC now owns 31,914 shares of the enterprise software provider’s stock valued at $2,781,000 after buying an additional 4,067 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Oracle by 4.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 289,407 shares of the enterprise software provider’s stock worth $25,218,000 after buying an additional 12,492 shares during the last quarter. Stonnington Group LLC boosted its position in shares of Oracle by 608.5% during the 4th quarter. Stonnington Group LLC now owns 29,253 shares of the enterprise software provider’s stock worth $2,588,000 after acquiring an additional 25,124 shares in the last quarter. Finally, BOKF NA purchased a new position in shares of Oracle in the 3rd quarter valued at about $11,082,000. Hedge funds and other institutional investors own 42.33% of the company’s stock.
Oracle Company Profile (Get Rating)
Oracle Corporation provides products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Fusion cloud advertising and customer experience, and NetSuite applications suite.
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