Oracle (NYSE:ORCL) Announces Earnings Results

Oracle (NYSE:ORCLGet Rating) issued its earnings results on Monday. The enterprise software provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.04), MarketWatch Earnings reports. The business had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $11.44 billion. Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. Oracle updated its Q2 guidance to $1.16-1.20 EPS.

Oracle Price Performance

Oracle stock traded down $2.88 during mid-day trading on Wednesday, reaching $73.16. 242,303 shares of the company traded hands, compared to its average volume of 8,217,041. The firm’s fifty day moving average is $75.21 and its two-hundred day moving average is $74.95. The company has a market capitalization of $194.97 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. Oracle has a fifty-two week low of $63.76 and a fifty-two week high of $106.34.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Wednesday, October 12th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.75%. Oracle’s payout ratio is 53.33%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ORCL shares. Citigroup set a $81.00 target price on shares of Oracle in a research report on Monday, June 20th. Stifel Nicolaus cut their target price on shares of Oracle from $83.00 to $72.00 in a research report on Tuesday, June 14th. Credit Suisse Group set a $115.00 target price on shares of Oracle in a research report on Tuesday. Morgan Stanley upped their price target on shares of Oracle from $88.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Oracle from $82.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.17.

Insider Activity

In related news, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction on Friday, June 17th. The shares were sold at an average price of $68.08, for a total transaction of $68,080,000.00. Following the sale, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $76,153,743.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Oracle news, insider Edward Screven sold 419,174 shares of the stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the transaction, the insider now directly owns 2,492,613 shares of the company’s stock, valued at $172,538,671.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction on Friday, June 17th. The shares were sold at an average price of $68.08, for a total transaction of $68,080,000.00. Following the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $76,153,743.36. The disclosure for this sale can be found here. Insiders have sold 3,399,174 shares of company stock valued at $232,369,224 in the last ninety days. Insiders own 43.40% of the company’s stock.

Institutional Investors Weigh In On Oracle

A number of hedge funds have recently modified their holdings of the business. Fairfield Bush & CO. increased its position in Oracle by 3.1% during the first quarter. Fairfield Bush & CO. now owns 73,791 shares of the enterprise software provider’s stock worth $6,105,000 after purchasing an additional 2,221 shares during the last quarter. AMI Investment Management Inc. lifted its stake in Oracle by 2.9% in the first quarter. AMI Investment Management Inc. now owns 20,467 shares of the enterprise software provider’s stock worth $1,693,000 after acquiring an additional 579 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Oracle by 29.2% in the first quarter. Baird Financial Group Inc. now owns 588,460 shares of the enterprise software provider’s stock worth $48,686,000 after acquiring an additional 132,920 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Oracle by 79.6% in the 1st quarter. Zions Bancorporation N.A. now owns 6,854 shares of the enterprise software provider’s stock valued at $567,000 after acquiring an additional 3,038 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Oracle by 125.2% in the 1st quarter. Covestor Ltd now owns 1,995 shares of the enterprise software provider’s stock valued at $165,000 after acquiring an additional 1,109 shares during the period. 41.92% of the stock is currently owned by institutional investors and hedge funds.

About Oracle

(Get Rating)

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

Further Reading

Earnings History for Oracle (NYSE:ORCL)

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.