Oracle Co. (ORCL) Expected to Post Quarterly Sales of $11.20 Billion
Analysts expect that Oracle Co. (NYSE:ORCL) will announce $11.20 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Oracle’s earnings. The highest sales estimate is $11.26 billion and the lowest is $11.16 billion. Oracle reported sales of $10.94 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.4%. The firm is scheduled to announce its next earnings results on Wednesday, June 20th.
On average, analysts expect that Oracle will report full year sales of $39.82 billion for the current financial year, with estimates ranging from $39.76 billion to $39.95 billion. For the next fiscal year, analysts forecast that the company will report sales of $41.20 billion per share, with estimates ranging from $40.48 billion to $41.76 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Oracle.
Oracle (NYSE:ORCL) last released its earnings results on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The company had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. Oracle’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share.
In related news, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the sale, the insider now owns 1,522,983 shares in the company, valued at $76,590,815.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.66, for a total value of $186,225.00. The disclosure for this sale can be found here. Insiders sold 2,052,500 shares of company stock worth $102,574,488 in the last quarter. 29.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC grew its stake 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 worth $745,124,000 after purchasing an additional 9,429,236 shares during the last quarter. FMR LLC lifted its holdings in shares of Oracle by 24.8% during 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. Mackenzie Financial Corp lifted its holdings in shares of Oracle by 50.2% during 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. Vanguard Group Inc. lifted its holdings in shares of Oracle by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after purchasing an additional 5,270,359 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Oracle by 24.4% during the third quarter. Boston Partners now owns 23,924,971 shares of the enterprise software provider’s stock valued at $1,156,772,000 after purchasing an additional 4,699,334 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.
Oracle stock traded up $0.43 during trading on Friday, hitting $46.48. The stock had a trading volume of 1,393,599 shares, compared to its average volume of 16,935,529. Oracle has a 1 year low of $43.60 and a 1 year high of $53.48. The company has a current ratio of 4.33, a quick ratio of 4.30 and a debt-to-equity ratio of 1.16. The company has a market cap of $190,752.88, a price-to-earnings ratio of 18.69, a PEG ratio of 1.70 and a beta of 1.15.
Oracle announced that its Board of Directors has initiated a share buyback program on Friday, February 2nd that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, April 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.64%. Oracle’s dividend payout ratio (DPR) is presently 30.52%.
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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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