Oracle (NYSE:ORCL) Updates Q3 Earnings Guidance

Oracle (NYSE:ORCL) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.71-0.73 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.72. The company issued revenue guidance of +2-7% (Approx $9.389-9.849 billion), compared to the consensus revenue estimate of $9.67 billion.

Oracle (NYSE ORCL) traded down $0.24 during midday trading on Friday, reaching $47.28. 9,750,044 shares of the company traded hands, compared to its average volume of 17,738,840. Oracle has a 52-week low of $38.30 and a 52-week high of $53.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04. The stock has a market capitalization of $196,713.89, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $0.61 earnings per share. Oracle’s revenue for the quarter was up 6.2% compared to the same quarter last year. sell-side analysts anticipate that Oracle will post 2.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is 32.62%.

Oracle announced that its board has authorized a share repurchase program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

A number of analysts have recently weighed in on ORCL shares. UBS Group set a $55.00 price target on shares of Oracle and gave the stock a neutral rating in a research report on Friday, December 15th. Vetr downgraded shares of Oracle from a buy rating to a hold rating and set a $46.58 price objective for the company. in a report on Sunday, September 3rd. BidaskClub raised shares of Oracle from a buy rating to a strong-buy rating in a report on Friday, October 27th. ValuEngine raised shares of Oracle from a hold rating to a buy rating in a report on Friday, September 1st. Finally, Oppenheimer reaffirmed a hold rating on shares of Oracle in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Oracle currently has a consensus rating of Buy and an average price target of $55.26.

In related news, EVP Dorian Daley sold 23,297 shares of Oracle stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $49.00, for a total value of $1,141,553.00. Following the transaction, the executive vice president now owns 54,274 shares of the company’s stock, valued at approximately $2,659,426. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value of $183,112.50. Following the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $885,043.75. The disclosure for this sale can be found here. Insiders sold a total of 211,250 shares of company stock worth $10,206,238 in the last three months. 29.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ORCL. Beach Investment Management LLC. purchased a new position in Oracle during the 2nd quarter valued at about $336,000. Profund Advisors LLC grew its stake in Oracle by 16.7% during the 2nd quarter. Profund Advisors LLC now owns 99,724 shares of the enterprise software provider’s stock valued at $5,000,000 after acquiring an additional 14,294 shares in the last quarter. ProShare Advisors LLC grew its stake in Oracle by 9.4% during the 2nd quarter. ProShare Advisors LLC now owns 369,083 shares of the enterprise software provider’s stock valued at $18,506,000 after acquiring an additional 31,795 shares in the last quarter. Acrospire Investment Management LLC grew its stake in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Columbia Partners L L C Investment Management grew its stake in Oracle by 9.7% during the 2nd quarter. Columbia Partners L L C Investment Management now owns 314,792 shares of the enterprise software provider’s stock valued at $15,783,000 after acquiring an additional 27,956 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Week Herald and is owned by of Week Herald. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://weekherald.com/2017/12/30/oracle-orcl-updates-q3-earnings-guidance.html.

About Oracle

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.

Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply