Oracle Corporation (ORCL) Set to Announce Earnings on Thursday
Oracle Corporation (NYSE:ORCL) will be posting its quarterly earnings results after the market closes on Thursday, September 14th. Analysts expect Oracle Corporation to post earnings of $0.61 per share for the quarter. Oracle Corporation has set its Q1 guidance at $0.59-0.61 EPS.
Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.11. The firm had revenue of $10.94 billion during the quarter, compared to the consensus estimate of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. On average, analysts expect Oracle Corporation to post $2.95 EPS for the current fiscal year and $3.19 EPS for the next fiscal year.
Shares of Oracle Corporation (NYSE:ORCL) opened at 52.77 on Wednesday. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $52.89. The stock’s 50 day moving average price is $49.86 and its 200-day moving average price is $46.78. The company has a market cap of $218.29 billion, a P/E ratio of 23.88 and a beta of 1.05.
In other news, insider Thomas Kurian sold 750,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark V. Hurd sold 350,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $49.76, for a total value of $17,416,000.00. Following the completion of the sale, the chief executive officer now directly owns 553,891 shares of the company’s stock, valued at approximately $27,561,616.16. The disclosure for this sale can be found here. Insiders sold a total of 1,817,500 shares of company stock valued at $91,560,925 in the last three months. Insiders own 29.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Trustmark National Bank Trust Department boosted its position in shares of Oracle Corporation by 43.1% in the 2nd quarter. Trustmark National Bank Trust Department now owns 39,035 shares of the enterprise software provider’s stock worth $1,957,000 after purchasing an additional 11,760 shares in the last quarter. Abbot Financial Management Inc. acquired a new stake in shares of Oracle Corporation in the 2nd quarter worth $368,000. Pathstone Family Office LLC boosted its position in shares of Oracle Corporation by 34.8% in the 2nd quarter. Pathstone Family Office LLC now owns 10,790 shares of the enterprise software provider’s stock worth $542,000 after purchasing an additional 2,786 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in shares of Oracle Corporation in the 2nd quarter worth $1,235,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Oracle Corporation in the 2nd quarter worth $4,603,000. 58.67% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 target price on shares of Oracle Corporation in a research report on Monday. Vetr cut Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 target price for the company. in a research report on Tuesday. Sanford C. Bernstein reiterated an “outperform” rating and set a $54.00 target price on shares of Oracle Corporation in a research report on Tuesday, June 13th. Moffett Nathanson assumed coverage on Oracle Corporation in a research report on Wednesday, September 6th. They set a “buy” rating and a $65.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) set a $49.00 target price on Oracle Corporation and gave the stock a “buy” rating in a research report on Monday, June 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-two have given a buy rating to the stock. Oracle Corporation currently has an average rating of “Buy” and a consensus price target of $51.63.
About Oracle Corporation
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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