Oracle Co. (NYSE:ORCL) – Oppenheimer increased their Q2 2019 earnings per share (EPS) estimates for Oracle in a note issued to investors on Wednesday, June 20th. Oppenheimer analyst B. Schwartz now forecasts that the enterprise software provider will post earnings per share of $0.76 for the quarter, up from their previous forecast of $0.73. Oppenheimer also issued estimates for Oracle’s Q3 2019 earnings at $0.78 EPS, FY2019 earnings at $3.12 EPS and FY2020 earnings at $3.33 EPS.
Oracle (NYSE:ORCL) last posted its earnings results on Tuesday, June 19th. The enterprise software provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.05. The company had revenue of $11.26 billion during the quarter, compared to analyst estimates of $11.17 billion. Oracle had a return on equity of 23.14% and a net margin of 9.61%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS.
Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Oracle from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $53.00 in a research report on Thursday, June 14th. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of Oracle in a research report on Tuesday, March 20th. Morgan Stanley restated a “buy” rating on shares of Oracle in a research report on Sunday, March 18th. Zacks Investment Research lowered Oracle from a “buy” rating to a “hold” rating in a research report on Thursday, April 5th. Finally, Barclays lifted their price objective on Oracle from $56.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, March 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.99.
Oracle stock opened at $44.28 on Monday. The stock has a market cap of $182.56 billion, a PE ratio of 15.70, a P/E/G ratio of 1.49 and a beta of 1.15. Oracle has a 1 year low of $42.57 and a 1 year high of $53.48. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.96 and a quick ratio of 4.30.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Tuesday, July 17th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Monday, July 16th. Oracle’s payout ratio is 26.95%.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $46.17, for a total transaction of $173,137.50. Following the sale, the director now owns 27,969 shares in the company, valued at approximately $1,291,328.73. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Kurian sold 979,402 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $45.40, for a total value of $44,464,850.80. Following the sale, the insider now owns 114,871 shares in the company, valued at approximately $5,215,143.40. The disclosure for this sale can be found here. Insiders sold a total of 2,432,015 shares of company stock worth $111,713,990 in the last 90 days. Company insiders own 29.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Greenline Partners LLC raised its stake in shares of Oracle by 5.7% during the 1st quarter. Greenline Partners LLC now owns 146,509 shares of the enterprise software provider’s stock worth $6,703,000 after purchasing an additional 7,840 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Oracle during the 1st quarter worth approximately $970,000. Altium Wealth Management LLC bought a new stake in shares of Oracle during the 1st quarter worth approximately $431,000. Chesapeake Wealth Management bought a new stake in shares of Oracle during the 1st quarter worth approximately $1,594,000. Finally, 180 Wealth Advisors LLC raised its stake in shares of Oracle by 23.0% during the 1st quarter. 180 Wealth Advisors LLC now owns 19,965 shares of the enterprise software provider’s stock worth $911,000 after purchasing an additional 3,738 shares in the last quarter. Institutional investors own 56.24% of the company’s stock.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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