$9.54 Billion in Sales Expected for Oracle Co. (ORCL) This Quarter
Wall Street brokerages expect that Oracle Co. (NYSE:ORCL) will post sales of $9.54 billion for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Oracle’s earnings, with the highest sales estimate coming in at $9.70 billion and the lowest estimate coming in at $9.48 billion. Oracle reported sales of $9.63 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.9%. The business is expected to issue its next quarterly earnings results on Thursday, December 13th.
According to Zacks, analysts expect that Oracle will report full year sales of $40.02 billion for the current year, with estimates ranging from $39.65 billion to $40.48 billion. For the next fiscal year, analysts anticipate that the business will report sales of $41.32 billion, with estimates ranging from $40.64 billion to $42.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Oracle.
Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) 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 business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year.
In related news, EVP Dorian Daley sold 131,696 shares of the company’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 in the company, valued at $5,582,691.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $47.26, for a total transaction of $177,225.00. Following the completion of the transaction, the director now owns 27,969 shares of the company’s stock, valued at $1,321,814.94. The disclosure for this sale can be found here. Insiders sold 142,946 shares of company stock valued at $7,248,965 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 the stock. Charles Schwab Investment Advisory Inc. purchased a new stake in Oracle during the second quarter valued at about $218,896,000. Thompson Siegel & Walmsley LLC boosted its position in Oracle by 2.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock valued at $13,426,000 after buying an additional 6,366 shares during the period. Sterling Capital Management LLC boosted its position in Oracle by 76.8% during the second quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock valued at $21,278,000 after buying an additional 209,853 shares during the period. Pitcairn Co. boosted its position in Oracle by 13.7% during the second quarter. Pitcairn Co. now owns 32,418 shares of the enterprise software provider’s stock valued at $1,428,000 after buying an additional 3,898 shares during the period. Finally, 180 Wealth Advisors LLC boosted its position in Oracle by 16.8% during the second quarter. 180 Wealth Advisors LLC now owns 23,323 shares of the enterprise software provider’s stock valued at $1,028,000 after buying an additional 3,358 shares during the period. Institutional investors own 53.51% of the company’s stock.
ORCL stock traded down $0.64 during midday trading on Friday, reaching $47.32. 23,089,139 shares of the company’s stock traded hands, compared to its average volume of 18,636,500. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43. Oracle has a 52 week low of $42.57 and a 52 week high of $53.48. The stock has a market capitalization of $195.89 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.59 and a beta of 1.15.
Oracle declared that its Board of Directors has initiated a stock repurchase program on Monday, September 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, October 15th. This represents a $0.76 annualized dividend and a yield of 1.61%. Oracle’s dividend payout ratio (DPR) is presently 26.95%.
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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