Analysts expect Oracle Co. (NYSE:ORCL) to post sales of $9.79 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Oracle’s earnings, with the lowest sales estimate coming in at $9.72 billion and the highest estimate coming in at $9.84 billion. Oracle posted sales of $9.27 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is expected to report its next earnings report after the market closes on Monday, March 19th.
According to Zacks, analysts expect that Oracle will report full year sales of $9.79 billion for the current year, with estimates ranging from $39.63 billion to $40.10 billion. For the next fiscal year, analysts forecast that the business will report sales of $41.21 billion per share, with estimates ranging from $40.60 billion to $42.41 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Oracle.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share.
A number of equities research analysts recently weighed in on the stock. OTR Global cut shares of Oracle to a “positive” rating in a research report on Friday. Instinet assumed coverage on shares of Oracle in a research report on Wednesday, January 24th. They issued a “buy” rating and a $51.12 price target for the company. ValuEngine raised shares of Oracle from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Nomura assumed coverage on shares of Oracle in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $64.00 price target for the company. Finally, Credit Suisse Group reissued a “buy” rating and issued a $62.00 price target on shares of Oracle in a research report on Sunday, February 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-nine have issued a buy rating to the company. Oracle has a consensus rating of “Buy” and a consensus price target of $55.38.
Shares of Oracle (ORCL) opened at $52.97 on Friday. Oracle has a 1 year low of $42.35 and a 1 year high of $53.14. The firm has a market cap of $222,810.00, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.99 and a beta of 1.05. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03.
Oracle declared that its board has initiated a stock repurchase program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $49.66, for a total transaction of $186,225.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares in the company, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold 1,956,250 shares of company stock valued at $98,316,475 over the last three months. 29.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC grew its position in shares of Oracle by 148.9% in the fourth quarter. Clearbridge Investments LLC now owns 15,759,813 shares of the enterprise software provider’s stock valued at $745,124,000 after purchasing an additional 9,429,236 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of Oracle in the second quarter valued at approximately $459,738,000. Harris Associates L P grew its position in shares of Oracle by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after purchasing an additional 7,427,501 shares during the last quarter. FMR LLC grew its position in shares of Oracle by 24.8% in the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after purchasing an additional 6,577,297 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Oracle by 50.2% in the fourth quarter. Mackenzie Financial Corp now owns 16,111,806 shares of the enterprise software provider’s stock valued at $761,766,000 after purchasing an additional 5,387,078 shares during the last quarter. Institutional investors own 57.26% of the company’s stock.
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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