Oracle Co. (NYSE:ORCL) – Research analysts at William Blair raised their Q2 2019 earnings estimates for shares of Oracle in a research note issued on Tuesday. William Blair analyst J. Ader now forecasts that the enterprise software provider will post earnings per share of $0.73 for the quarter, up from their prior forecast of $0.68. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for Oracle’s Q1 2020 earnings at $0.69 EPS, Q2 2020 earnings at $0.79 EPS, Q3 2020 earnings at $0.81 EPS and FY2020 earnings at $3.29 EPS.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.11. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share.
Several other research firms also recently weighed in on ORCL. Canaccord Genuity decreased their price objective on Oracle from $57.00 to $53.00 and set a “buy” rating for the company in a report on Friday, December 15th. Wedbush reaffirmed a “buy” rating and set a $58.00 price target on shares of Oracle in a report on Friday, December 15th. Vetr downgraded Oracle from a “buy” rating to a “hold” rating and set a $51.82 price target for the company. in a report on Wednesday, January 17th. Credit Suisse Group decreased their price target on Oracle from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the stock a “buy” rating in a report on Tuesday, December 12th. Fifteen equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.11.
Shares of Oracle stock opened at $44.79 on Thursday. The firm has a market capitalization of $194,644.09, a P/E ratio of 54.62, a PEG ratio of 1.78 and a beta of 1.05. Oracle has a fifty-two week low of $43.60 and a fifty-two week high of $53.48. The company has a quick ratio of 5.04, a current ratio of 4.33 and a debt-to-equity ratio of 1.16.
Oracle announced that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.70%. Oracle’s dividend payout ratio is currently 92.68%.
In related news, insider Thomas Kurian sold 1,700,000 shares of Oracle stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $49.72, for a total value of $186,450.00. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $901,175. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,856,250 shares of company stock valued at $93,571,688. Company insiders own 29.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares during the last quarter. Tarbox Family Office Inc. boosted its stake in Oracle by 71.1% in the 4th quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock worth $110,000 after buying an additional 965 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Oracle by 65.9% in the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after buying an additional 947 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Oracle by 81,200.0% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after buying an additional 2,436 shares during the last quarter. Finally, ETF Managers Group LLC acquired a new stake in Oracle in the 2nd quarter worth about $133,000. Hedge funds and other institutional investors own 57.93% of the company’s stock.
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Oracle 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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