Oracle (ORCL) Issues Earnings Results

Oracle (NYSE:ORCL) announced its quarterly earnings data on Monday. The enterprise software provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.10, RTT News reports. The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.52 billion. Oracle had a return on equity of 27.68% and a net margin of 10.01%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. Oracle updated its Q3 guidance to $0.83-0.85 EPS.

Shares of ORCL opened at $45.85 on Wednesday. The stock has a market capitalization of $189.30 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.54 and a beta of 1.11. Oracle has a 12-month low of $42.57 and a 12-month high of $53.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43.

In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $47.26, for a total value of $177,225.00. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,321,814.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction dated 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 of the company’s stock, valued at $5,582,691.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,946 shares of company stock worth $7,246,115. 32.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. boosted its holdings in Oracle by 59.3% in the third quarter. Marshall Wace North America L.P. now owns 195,920 shares of the enterprise software provider’s stock valued at $10,102,000 after purchasing an additional 72,895 shares in the last quarter. Marshall Wace LLP acquired a new position in Oracle in the third quarter valued at approximately $7,844,000. Matthew Goff Investment Advisor LLC boosted its holdings in Oracle by 2.3% in the third quarter. Matthew Goff Investment Advisor LLC now owns 126,041 shares of the enterprise software provider’s stock valued at $6,499,000 after purchasing an additional 2,775 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in Oracle by 4.0% in the third quarter. Great Lakes Advisors LLC now owns 1,696,572 shares of the enterprise software provider’s stock valued at $87,475,000 after purchasing an additional 65,450 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Oracle by 5.1% in the third quarter. Clearbridge Investments LLC now owns 21,161,401 shares of the enterprise software provider’s stock valued at $1,091,082,000 after purchasing an additional 1,022,017 shares in the last quarter. 50.98% of the stock is owned by institutional investors.

Oracle announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Several research firms have recently commented on ORCL. Royal Bank of Canada lifted their price target on Oracle to $55.00 in a report on Tuesday. Nomura set a $58.00 price target on Oracle and gave the stock a “buy” rating in a report on Tuesday, September 18th. Credit Suisse Group reiterated a “buy” rating and set a $60.00 price target on shares of Oracle in a report on Tuesday, September 18th. Goldman Sachs Group reiterated a “buy” rating and set a $55.00 price target on shares of Oracle in a report on Tuesday, September 18th. Finally, Sanford C. Bernstein set a $57.00 price target on Oracle and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $53.66.

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About Oracle

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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Earnings History for Oracle (NYSE:ORCL)

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