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.
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.
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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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