Oracle (NYSE:ORCL) Announces Earnings Results, Beats Expectations By $0.06 EPS

Oracle (NYSE:ORCL) posted its quarterly earnings data on Monday. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06, Briefing.com reports. The company had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 223.01% and a net margin of 19.76%. Oracle’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. Oracle updated its Q2 guidance to $1.45-1.49 EPS.

Oracle Price Performance

NYSE:ORCL opened at $155.82 on Wednesday. The firm has a market capitalization of $429.42 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 2.56 and a beta of 1.01. Oracle has a 1 year low of $99.26 and a 1 year high of $160.52. The business has a 50 day simple moving average of $138.90 and a 200-day simple moving average of $129.13. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, October 10th. Oracle’s payout ratio is 43.13%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ORCL. Citigroup reduced their price objective on Oracle from $133.00 to $128.00 and set a “neutral” rating for the company in a research report on Monday, June 10th. BMO Capital Markets upped their price target on Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a research report on Tuesday. StockNews.com upgraded Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday. Sanford C. Bernstein upped their price target on Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, Evercore ISI upped their price target on Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday. Twelve research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $157.52.

Insider Activity

In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the sale, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Edward Screven sold 235,918 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total value of $34,042,967.40. Following the sale, the insider now directly owns 2,626,764 shares in the company, valued at $379,042,045.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the sale, the chairman now owns 1,145,732,353 shares in the company, valued at $164,630,281,802.57. The disclosure for this sale can be found here. Insiders sold 1,862,500 shares of company stock valued at $266,776,624 in the last ninety days. Insiders own 42.80% of the company’s stock.

Institutional Investors Weigh In On Oracle

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fairway Wealth LLC purchased a new position in Oracle during the 2nd quarter worth $27,000. Westend Capital Management LLC purchased a new position in Oracle during the 1st quarter worth $25,000. POM Investment Strategies LLC purchased a new position in Oracle during the 2nd quarter worth $30,000. Bbjs Financial Advisors LLC purchased a new position in Oracle during the 2nd quarter worth $35,000. Finally, Tidemark LLC purchased a new position in Oracle during the 4th quarter worth $29,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Company Profile

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 Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.