Oracle Corp. (ORCL) Releases Earnings Results, Misses Estimates By $0.03 EPS
Oracle Corp. (NYSE:ORCL) announced its quarterly earnings data on Thursday. The enterprise software provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earned $8.60 billion during the quarter. During the same quarter in the prior year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year.
Oracle Corp. (NYSE:ORCL) opened at 38.92 on Monday. Oracle Corp. has a 1-year low of $33.13 and a 1-year high of $42.00. The firm has a 50-day moving average of $41.07 and a 200 day moving average of $40.28. The firm has a market cap of $160.46 billion, a P/E ratio of 18.80 and a beta of 1.08.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, October 7th. This represents a $0.60 annualized dividend and a yield of 1.54%. Oracle Corp.’s dividend payout ratio is presently 28.57%.
In other Oracle Corp. news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $40.16, for a total transaction of $150,600.00. Following the transaction, the director now owns 8,281 shares of the company’s stock, valued at $332,564.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $20,585,000.00. Following the transaction, the executive vice president now directly owns 119,645 shares in the company, valued at approximately $4,925,784.65. The disclosure for this sale can be found here. Company insiders own 28.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Burgundy Asset Management Ltd. increased its position in shares of Oracle Corp. by 3.7% in the second quarter. Burgundy Asset Management Ltd. now owns 6,055,113 shares of the enterprise software provider’s stock worth $247,836,000 after buying an additional 213,319 shares in the last quarter. AXA increased its position in shares of Oracle Corp. by 29.8% in the second quarter. AXA now owns 2,355,320 shares of the enterprise software provider’s stock worth $96,403,000 after buying an additional 540,614 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Oracle Corp. by 8.0% in the second quarter. Alliancebernstein L.P. now owns 15,657,740 shares of the enterprise software provider’s stock worth $640,871,000 after buying an additional 1,164,249 shares in the last quarter. GAM Holding AG increased its position in shares of Oracle Corp. by 16.1% in the second quarter. GAM Holding AG now owns 1,303,732 shares of the enterprise software provider’s stock worth $53,362,000 after buying an additional 180,825 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its position in shares of Oracle Corp. by 1.0% in the second quarter. Atlantic Trust Group LLC now owns 3,762,988 shares of the enterprise software provider’s stock worth $154,018,000 after buying an additional 38,117 shares in the last quarter. 58.00% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $48.00 price objective on shares of Oracle Corp. in a research note on Friday, June 10th. Zacks Investment Research cut Oracle Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Vetr raised Oracle Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 target price on the stock in a research report on Tuesday, September 6th. DA Davidson reaffirmed a “buy” rating on shares of Oracle Corp. in a research report on Saturday. Finally, Cowen and Company started coverage on Oracle Corp. in a research report on Thursday, June 23rd. They set an “outperform” rating and a $46.00 target price on the stock. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $44.96.
About Oracle Corp.
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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