Oracle Co. (NYSE:ORCL) – Investment analysts at Wedbush boosted their Q3 2019 earnings estimates for shares of Oracle in a research report issued to clients and investors on Tuesday, September 18th, Zacks Investment Research reports. Wedbush analyst S. Koenig now expects that the enterprise software provider will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.76. Wedbush currently has a “Neutral” rating and a $49.00 target price on the stock. Wedbush also issued estimates for Oracle’s FY2019 earnings at $3.05 EPS, Q1 2020 earnings at $0.70 EPS, Q2 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.84 EPS and Q4 2020 earnings at $1.08 EPS.
A number of other research firms have also recently weighed in on ORCL. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a report on Friday, September 21st. KeyCorp reaffirmed a “hold” rating on shares of Oracle in a report on Wednesday, September 12th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Oracle in a report on Tuesday, September 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Oracle in a report on Tuesday, September 18th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $49.00 price objective (down previously from $50.00) on shares of Oracle in a report on Tuesday, September 18th. Sixteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $53.92.
ORCL traded up $0.60 on Friday, reaching $47.38. The stock had a trading volume of 23,123,169 shares, compared to its average volume of 17,422,672. Oracle has a 12-month low of $42.57 and a 12-month high of $53.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43. The stock has a market capitalization of $213.44 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.72 and a beta of 1.14.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cpwm LLC boosted its position in Oracle by 6.5% during the second quarter. Cpwm LLC now owns 17,240 shares of the enterprise software provider’s stock worth $760,000 after acquiring an additional 1,050 shares during the last quarter. Quadrant Private Wealth Management LLC boosted its holdings in Oracle by 0.9% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 126,926 shares of the enterprise software provider’s stock valued at $5,592,000 after purchasing an additional 1,072 shares during the last quarter. Willow Creek Wealth Management Inc. boosted its holdings in Oracle by 15.6% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 8,051 shares of the enterprise software provider’s stock valued at $355,000 after purchasing an additional 1,084 shares during the last quarter. Bollard Group LLC boosted its holdings in Oracle by 4.7% in the 1st quarter. Bollard Group LLC now owns 24,237 shares of the enterprise software provider’s stock valued at $1,109,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Schnieders Capital Management LLC boosted its holdings in Oracle by 5.5% in the 1st quarter. Schnieders Capital Management LLC now owns 20,825 shares of the enterprise software provider’s stock valued at $953,000 after purchasing an additional 1,095 shares during the last quarter. Hedge funds and other institutional investors own 53.43% of the company’s stock.
In related news, EVP Dorian Daley sold 131,696 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $185,325.00. Following the transaction, the director now owns 27,969 shares in the company, valued at $1,382,227.98. The disclosure for this sale can be found here. Insiders have sold 184,196 shares of company stock valued at $9,235,790 in the last three months. Corporate insiders own 32.00% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. Oracle’s dividend payout ratio is currently 26.95%.
Oracle declared that its board has authorized a stock repurchase plan on Monday, September 17th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Oracle Company Profile
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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