Oracle Co. (NYSE:ORCL) – Analysts at Jefferies Financial Group issued their Q2 2020 earnings per share estimates for shares of Oracle in a report issued on Monday, October 7th. Jefferies Financial Group analyst B. Thill expects that the enterprise software provider will post earnings of $0.79 per share for the quarter. Jefferies Financial Group has a “Hold” rating and a $60.00 price objective on the stock. Jefferies Financial Group also issued estimates for Oracle’s Q3 2020 earnings at $0.85 EPS, Q4 2020 earnings at $1.14 EPS, FY2020 earnings at $3.47 EPS, Q1 2021 earnings at $0.75 EPS, Q2 2021 earnings at $0.85 EPS, Q3 2021 earnings at $0.93 EPS, Q4 2021 earnings at $1.23 EPS and FY2021 earnings at $3.74 EPS.
ORCL has been the topic of a number of other reports. Wells Fargo & Co raised their price target on shares of Oracle from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. William Blair reaffirmed a “hold” rating on shares of Oracle in a research report on Thursday, September 12th. UBS Group set a $57.00 price target on shares of Oracle and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Oracle in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. set a $56.00 price target on shares of Oracle and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. Oracle currently has a consensus rating of “Hold” and a consensus target price of $56.38.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The business had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the firm earned $0.71 earnings per share. Oracle’s revenue for the quarter was up .2% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the business. Evolution Wealth Advisors LLC boosted its stake in shares of Oracle by 346.0% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. C J Advisory Inc acquired a new stake in shares of Oracle in the 3rd quarter valued at approximately $31,000. Next Capital Management LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at approximately $36,000. Shamrock Asset Management LLC boosted its stake in shares of Oracle by 577.0% in the 2nd quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock valued at $39,000 after purchasing an additional 577 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Oracle in the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.
In other Oracle news, Director Renee Jo James sold 3,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $53.56, for a total transaction of $160,680.00. Following the sale, the director now directly owns 32,886 shares in the company, valued at $1,761,374.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dorian Daley sold 50,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the sale, the executive vice president now owns 50,000 shares in the company, valued at $2,750,500. The disclosure for this sale can be found here. Insiders have sold 845,143 shares of company stock worth $43,950,409 over the last quarter. Corporate insiders own 36.60% of the company’s stock.
Oracle announced that its board has authorized a share repurchase plan on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a yield of 1.69%. Oracle’s payout ratio is 30.38%.
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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