Oracle Corp. (ORCL) Releases Earnings Results, Misses Estimates By $0.03 EPS
Oracle Corp. (NYSE:ORCL) issued its earnings results on Thursday. The enterprise software provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.03. Oracle Corp. had a return on equity of 22.22% and a net margin of 24.16%. The firm had revenue of $8.60 billion for the quarter. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year.
Oracle Corp. (NYSE:ORCL) opened at 38.92 on Monday. The stock has a 50 day moving average price of $41.07 and a 200 day moving average price of $40.28. The stock has a market cap of $160.46 billion, a PE ratio of 18.80 and a beta of 1.08. Oracle Corp. has a 1-year low of $33.13 and a 1-year high of $42.00.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, October 7th. Oracle Corp.’s dividend payout ratio is currently 28.57%.
In related news, EVP John F. Fowler sold 500,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $41.17, for a total value of $20,585,000.00. Following the transaction, the executive vice president now owns 119,645 shares of the company’s stock, valued at $4,925,784.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $41.78, for a total value of $156,675.00. Following the completion of the transaction, the director now directly owns 8,281 shares in the company, valued at approximately $345,980.18. The disclosure for this sale can be found here. Insiders own 28.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Camarda Financial Advisors LLC boosted its position in shares of Oracle Corp. by 9.6% in the second quarter. Camarda Financial Advisors LLC now owns 2,443 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 215 shares during the period. WESPAC Advisors SoCal LLC boosted its position in shares of Oracle Corp. by 20.8% in the second quarter. WESPAC Advisors SoCal LLC now owns 2,900 shares of the enterprise software provider’s stock valued at $119,000 after buying an additional 500 shares during the period. SevenBridge Financial Group LLC purchased a new position in shares of Oracle Corp. during the second quarter valued at about $128,000. Valley National Advisers Inc. boosted its position in shares of Oracle Corp. by 11.0% in the second quarter. Valley National Advisers Inc. now owns 3,561 shares of the enterprise software provider’s stock valued at $146,000 after buying an additional 354 shares during the period. Finally, Invictus RG purchased a new position in shares of Oracle Corp. during the second quarter valued at about $152,000. 58.00% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $51.00 target price on shares of Oracle Corp. in a research report on Friday, July 15th. Macquarie reaffirmed an “outperform” rating on shares of Oracle Corp. in a research report on Tuesday, July 19th. Atlantic Securities downgraded Oracle Corp. from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $48.00 to $44.00 in a report on Tuesday, July 19th. BTIG Research upped their price target on Oracle Corp. from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. Finally, Vetr downgraded Oracle Corp. from a “buy” rating to a “hold” rating and set a $41.24 price target for the company. in a report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $44.96.
Oracle Corp. Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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