Oracle Co. (NYSE:ORCL – Get Rating) – Stock analysts at Jefferies Financial Group lowered their Q2 2023 earnings estimates for Oracle in a research report issued on Tuesday, September 13th. Jefferies Financial Group analyst B. Thill now forecasts that the enterprise software provider will post earnings per share of $0.98 for the quarter, down from their previous forecast of $1.07. The consensus estimate for Oracle’s current full-year earnings is $4.36 per share. Jefferies Financial Group also issued estimates for Oracle’s Q3 2023 earnings at $1.12 EPS, Q4 2023 earnings at $1.27 EPS, FY2023 earnings at $4.18 EPS, Q1 2024 earnings at $1.07 EPS, Q2 2024 earnings at $1.12 EPS, Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.49 EPS and FY2024 earnings at $4.88 EPS.
ORCL has been the subject of several other reports. Cowen dropped their target price on Oracle from $107.00 to $98.00 and set an “outperform” rating for the company in a research report on Thursday, June 9th. Stifel Nicolaus reduced their target price on shares of Oracle from $83.00 to $72.00 in a report on Tuesday, June 14th. Credit Suisse Group set a $115.00 price target on shares of Oracle in a research note on Tuesday. Daiwa Capital Markets reduced their price objective on Oracle from $87.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, June 27th. Finally, Morgan Stanley boosted their target price on Oracle from $88.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.17.
Oracle Trading Down 2.6 %
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ORCL stock opened at $70.24 on Friday. The business’s fifty day moving average price is $75.21 and its 200 day moving average price is $74.93. Oracle has a 12-month low of $63.76 and a 12-month high of $106.34. The company has a market capitalization of $189.34 billion, a PE ratio of 33.45, a P/E/G ratio of 2.07 and a beta of 0.87.
Oracle (NYSE:ORCL – Get Rating) last posted its earnings results on Monday, September 12th. The enterprise software provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.04). Oracle had a net margin of 13.15% and a negative return on equity of 161.07%. The company had revenue of $11.45 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same quarter last year, the business posted $0.87 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis.
Oracle Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Wednesday, October 12th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, October 11th. Oracle’s dividend payout ratio is presently 60.95%.
Insiders Place Their Bets
In related news, CEO Safra Catz sold 980,000 shares of the company’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $69.80, for a total transaction of $68,404,000.00. Following the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $78,077,721.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Safra Catz sold 980,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $69.80, for a total value of $68,404,000.00. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at $78,077,721.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Screven sold 419,174 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the completion of the transaction, the insider now directly owns 2,492,613 shares of the company’s stock, valued at $172,538,671.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,399,174 shares of company stock worth $164,289,224. Company insiders own 39.10% of the company’s stock.
Institutional Trading of Oracle
Large investors have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. increased its stake in shares of Oracle by 2.6% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 5,041 shares of the enterprise software provider’s stock worth $417,000 after purchasing an additional 126 shares in the last quarter. RMB Capital Management LLC increased its position in Oracle by 0.7% during the second quarter. RMB Capital Management LLC now owns 18,863 shares of the enterprise software provider’s stock worth $1,318,000 after buying an additional 128 shares in the last quarter. Eukles Asset Management raised its holdings in shares of Oracle by 0.4% in the second quarter. Eukles Asset Management now owns 35,213 shares of the enterprise software provider’s stock worth $2,460,000 after acquiring an additional 133 shares during the last quarter. Family Legacy Inc. raised its holdings in shares of Oracle by 0.4% in the second quarter. Family Legacy Inc. now owns 34,873 shares of the enterprise software provider’s stock worth $2,455,000 after acquiring an additional 135 shares during the last quarter. Finally, St. Johns Investment Management Company LLC lifted its position in shares of Oracle by 0.9% in the second quarter. St. Johns Investment Management Company LLC now owns 15,887 shares of the enterprise software provider’s stock valued at $1,110,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 41.92% of the company’s stock.
About Oracle
Oracle Corporation offers 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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.
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