Wall Street analysts expect Oracle Co. (NYSE:ORCL – Get Rating) to report $11.65 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Oracle’s earnings, with the lowest sales estimate coming in at $11.32 billion and the highest estimate coming in at $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 issue its next quarterly earnings report 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 fiscal year, analysts anticipate that the business will post sales of $44.41 billion, with estimates ranging from $43.10 billion to $45.76 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms 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 $0.94 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.06). Oracle had a negative return on equity of 383.80% and a net margin of 18.08%. The business had revenue of $10.51 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year.
Several brokerages have issued reports on ORCL. Piper Sandler cut Oracle from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $100.00 to $70.00 in a research report on Friday, March 11th. BMO Capital Markets dropped their target price on Oracle from $115.00 to $92.00 and set a “market perform” rating on the stock in a research report on Friday, March 11th. Jefferies Financial Group dropped their target price on Oracle from $80.00 to $75.00 in a research report on Monday. Zacks Investment Research raised Oracle from a “sell” rating to a “hold” rating and set a $72.00 price objective for the company in a research report on Friday, May 20th. Finally, BNP Paribas cut Oracle from a “neutral” rating to an “underperform” rating and set a $79.00 price objective for the company. in a research report on Tuesday, March 29th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Oracle has a consensus rating of “Hold” and a consensus target price of $91.70.
In other news, Director Renee Jo James sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was 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 $3,523,031.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 39.10% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Oracle by 1.6% in the fourth quarter. BlackRock Inc. now owns 119,247,252 shares of the enterprise software provider’s stock valued at $10,399,550,000 after acquiring an additional 1,886,260 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Oracle by 0.8% in the first quarter. First Eagle Investment Management LLC now owns 25,924,820 shares of the enterprise software provider’s stock valued at $2,144,760,000 after buying an additional 204,315 shares in the last quarter. Fisher Asset Management LLC raised its stake in Oracle by 4.7% in the first quarter. Fisher Asset Management LLC now owns 16,758,831 shares of the enterprise software provider’s stock valued at $1,386,458,000 after buying an additional 757,743 shares in the last quarter. Morgan Stanley raised its stake in Oracle by 12.1% in the second quarter. Morgan Stanley now owns 12,477,054 shares of the enterprise software provider’s stock valued at $971,213,000 after buying an additional 1,342,602 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Oracle by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,524,116 shares of the enterprise software provider’s stock valued at $953,393,000 after buying an additional 117,443 shares in the last quarter. Institutional investors own 42.33% of the company’s stock.
Shares of NYSE:ORCL opened at $71.66 on Friday. Oracle has a 52-week low of $66.72 and a 52-week high of $106.34. The stock has a market cap of $191.20 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.09 and a beta of 0.87. The business’s 50 day moving average is $76.69 and its 200 day moving average is $82.66.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 21st. Stockholders of record on Friday, April 8th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.79%. Oracle’s dividend payout ratio (DPR) is presently 49.04%.
About Oracle (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.
Recommended Stories
Get a free copy of the Zacks research report on Oracle (ORCL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Oracle Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Oracle and related companies with MarketBeat.com’s FREE daily email newsletter.
