Oracle Co. (NYSE:ORCL) – Equities research analysts at KeyCorp lowered their Q4 2020 EPS estimates for Oracle in a report released on Monday, September 17th, Zacks Investment Research reports. KeyCorp analyst M. Garg now anticipates that the enterprise software provider will earn $0.98 per share for the quarter, down from their previous forecast of $0.99. KeyCorp has a “Hold” rating on the stock.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS.
Several other brokerages have also issued reports on ORCL. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Stifel Nicolaus decreased their price target on shares of Oracle from $53.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, June 20th. Wells Fargo & Co decreased their price target on shares of Oracle from $62.50 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, September 18th. ValuEngine lowered shares of Oracle from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Finally, Royal Bank of Canada decreased their price target on shares of Oracle from $55.00 to $52.00 and set a “sector perform” rating for the company in a research note on Wednesday, June 20th. Sixteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $53.92.
Shares of ORCL stock traded up $0.60 during trading hours on Thursday, hitting $47.38. 23,123,169 shares of the company were exchanged, compared to its average volume of 17,422,672. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41. Oracle has a 52-week low of $42.57 and a 52-week high of $53.48. The firm has a market cap of $213.44 billion, a P/E ratio of 16.80, a PEG ratio of 1.72 and a beta of 1.14.
Oracle declared that its Board of Directors has approved a stock buyback plan on Monday, September 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th will be paid a $0.19 dividend. The ex-dividend date is Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. Oracle’s dividend payout ratio is 26.95%.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the transaction, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total transaction of $179,137.50. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,336,079.13. The disclosure for this sale can be found here. Insiders sold a total of 184,196 shares of company stock valued at $9,235,790 over the last quarter. 32.00% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in ORCL. FMR LLC boosted its holdings in Oracle by 21.4% in the 2nd quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock valued at $2,100,949,000 after purchasing an additional 8,401,411 shares during the period. Charles Schwab Investment Advisory Inc. bought a new position in Oracle in the 2nd quarter valued at $218,896,000. Summit Trail Advisors LLC boosted its holdings in Oracle by 3,754.1% in the 1st quarter. Summit Trail Advisors LLC now owns 2,535,473 shares of the enterprise software provider’s stock valued at $2,535,000 after purchasing an additional 2,469,687 shares during the period. Ceredex Value Advisors LLC bought a new position in Oracle in the 1st quarter valued at $111,727,000. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Oracle by 787.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,944,051 shares of the enterprise software provider’s stock valued at $85,654,000 after purchasing an additional 1,725,077 shares during the period. 53.43% of the stock is owned by hedge funds and other institutional investors.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company 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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