Oracle (ORCL) Updates Q3 Earnings Guidance
Oracle (NYSE:ORCL) updated its third quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.71-0.73 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.72. The company issued revenue guidance of +2-7% (Approx $9.389-9.849 billion), compared to the consensus revenue estimate of $9.67 billion.
A number of analysts recently weighed in on the stock. Canaccord Genuity lowered their price target on shares of Oracle from $57.00 to $53.00 and set a buy rating for the company in a report on Friday. BMO Capital Markets lowered their price target on shares of Oracle from $57.00 to $55.00 and set an outperform rating for the company in a report on Friday. Royal Bank of Canada lowered shares of Oracle from an outperform rating to a sector perform rating in a report on Friday. Jefferies Group set a $61.00 price target on shares of Oracle and gave the company a buy rating in a report on Friday. Finally, UBS set a $55.00 price target on shares of Oracle and gave the company a neutral rating in a report on Friday. Fourteen analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. Oracle currently has an average rating of Buy and a consensus target price of $54.97.
Oracle (NYSE:ORCL) traded up $0.14 on Friday, reaching $50.19. 22,259,200 shares of the company traded hands, compared to its average volume of 13,348,773. The company has a market cap of $208,882.97, a PE ratio of 19.63, a P/E/G ratio of 1.90 and a beta of 1.05. Oracle has a 1-year low of $38.30 and a 1-year high of $53.14. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a net margin of 25.34% and a return on equity of 20.55%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. equities research analysts predict that Oracle will post 2.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.51%. Oracle’s dividend payout ratio is currently 33.19%.
In related news, EVP Dorian Daley sold 76,703 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $49.00, for a total value of $3,758,447.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Berg sold 45,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $48.03, for a total transaction of $2,161,350.00. The disclosure for this sale can be found here. Insiders sold a total of 302,026 shares of company stock worth $14,633,187 over the last ninety days. 29.00% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. North Star Asset Management Inc. lifted its position in Oracle by 4.5% during the 2nd quarter. North Star Asset Management Inc. now owns 127,739 shares of the enterprise software provider’s stock worth $6,404,000 after buying an additional 5,480 shares in the last quarter. Koch Industries Inc. lifted its position in Oracle by 9,000.7% during the 2nd quarter. Koch Industries Inc. now owns 430,190 shares of the enterprise software provider’s stock worth $422,000 after buying an additional 425,463 shares in the last quarter. High Falls Advisors Inc lifted its position in Oracle by 15.7% during the 2nd quarter. High Falls Advisors Inc now owns 7,399 shares of the enterprise software provider’s stock worth $371,000 after buying an additional 1,005 shares in the last quarter. Keel Point LLC lifted its position in Oracle by 0.3% during the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after buying an additional 14 shares in the last quarter. Finally, National Asset Management Inc. lifted its position in Oracle by 7.1% during the 2nd quarter. National Asset Management Inc. now owns 12,364 shares of the enterprise software provider’s stock worth $621,000 after buying an additional 824 shares in the last quarter. 57.70% of the stock is currently owned by hedge funds and other institutional investors.
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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