Oracle (NYSE:ORCL – Get Rating) issued an update on its second quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.16-$1.20 for the period, compared to the consensus estimate of $1.28. The company issued revenue guidance of $11.91 billion-$12.12 billion, compared to the consensus revenue estimate of $12.17 billion.
Analyst Upgrades and Downgrades
ORCL has been the topic of several research reports. Berenberg Bank began coverage on Oracle in a report on Wednesday, September 14th. They set a hold rating and a $72.00 price objective on the stock. Barclays set a $82.00 price objective on Oracle in a research report on Thursday, September 15th. Evercore ISI boosted their price target on Oracle from $78.00 to $87.00 and gave the stock an in-line rating in a research report on Tuesday, September 13th. Credit Suisse Group set a $115.00 price objective on shares of Oracle in a report on Tuesday, September 13th. Finally, Deutsche Bank Aktiengesellschaft set a $110.00 target price on shares of Oracle in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $88.67.
Oracle Price Performance
ORCL opened at $63.08 on Tuesday. Oracle has a one year low of $60.78 and a one year high of $106.34. The company has a fifty day moving average price of $73.47 and a 200-day moving average price of $73.77. The firm has a market capitalization of $170.07 billion, a P/E ratio of 30.04, a price-to-earnings-growth ratio of 1.85 and a beta of 0.93.
Oracle (NYSE:ORCL – Get Rating) last released its quarterly earnings results on Monday, September 12th. The enterprise software provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.07). The firm had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $11.44 billion. Oracle had a net margin of 13.15% and a negative return on equity of 161.07%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. On average, analysts expect that Oracle will post 4.12 earnings per share for the current year.
Oracle Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Wednesday, October 12th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $1.28 annualized dividend and a yield of 2.03%. Oracle’s payout ratio is currently 60.95%.
Institutional Investors Weigh In On Oracle
Large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its holdings in shares of Oracle by 3.6% during the second quarter. Macquarie Group Ltd. now owns 6,035,064 shares of the enterprise software provider’s stock valued at $421,669,000 after acquiring an additional 209,156 shares in the last quarter. Gabelli Funds LLC raised its holdings in Oracle by 109.6% in the 1st quarter. Gabelli Funds LLC now owns 11,946 shares of the enterprise software provider’s stock worth $988,000 after purchasing an additional 6,246 shares in the last quarter. Range Financial Group LLC bought a new stake in shares of Oracle during the 1st quarter valued at about $311,000. Gamco Investors INC. ET AL boosted its stake in shares of Oracle by 2.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 21,484 shares of the enterprise software provider’s stock valued at $1,777,000 after purchasing an additional 584 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of Oracle by 27.2% during the first quarter. Walleye Capital LLC now owns 26,092 shares of the enterprise software provider’s stock valued at $2,159,000 after buying an additional 5,583 shares during the period. Institutional investors own 41.92% of the company’s stock.
Oracle Company Profile
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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