Wall Street analysts expect Oracle Co. (NYSE:ORCL) to post $9.79 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Oracle’s earnings, with the highest sales estimate coming in at $9.84 billion and the lowest estimate coming in at $9.72 billion. Oracle posted sales of $9.27 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is scheduled to issue its next earnings report after the market closes on Monday, March 19th.
According to Zacks, analysts expect that Oracle will report full-year sales of $9.79 billion for the current financial year, with estimates ranging from $39.63 billion to $40.10 billion. For the next year, analysts anticipate that the company will post sales of $41.21 billion per share, with estimates ranging from $40.60 billion to $42.41 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Oracle.
Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. Oracle’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share.
Oracle (NYSE:ORCL) traded down $0.26 during trading on Friday, reaching $52.32. The company’s stock had a trading volume of 10,885,416 shares, compared to its average volume of 15,390,000. 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 firm has a market capitalization of $216,580.00, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.05. Oracle has a 12 month low of $42.40 and a 12 month high of $53.48.
Oracle declared that its board has approved a share repurchase program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $49.66, for a total value of $186,225.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,956,250 shares of company stock worth $98,316,475. Company insiders own 29.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Oracle by 2.6% during the 2nd 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 in the last quarter. BlackRock Inc. grew its position in shares of Oracle by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after acquiring an additional 4,678,977 shares in the last quarter. Harris Associates L P grew its position in shares of Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after acquiring an additional 7,427,501 shares in the last quarter. Northern Trust Corp grew its position in shares of Oracle by 4.6% in the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock worth $2,110,799,000 after acquiring an additional 1,835,835 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Oracle by 5.8% in the 2nd quarter. Franklin Resources Inc. now owns 40,206,990 shares of the enterprise software provider’s stock worth $2,015,961,000 after acquiring an additional 2,193,120 shares in the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.
Oracle Company Profile
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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