Oracle Co. (NYSE:ORCL) – Jefferies Group increased their FY2018 earnings per share estimates for Oracle in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Difucci now anticipates that the enterprise software provider will post earnings of $2.81 per share for the year, up from their previous estimate of $2.65. Jefferies Group has a “Buy” rating and a $61.00 price objective on the stock. Jefferies Group also issued estimates for Oracle’s Q4 2018 earnings at $0.86 EPS, Q2 2019 earnings at $0.71 EPS and FY2019 earnings at $3.01 EPS.
Oracle (NYSE:ORCL) last announced its earnings results on Monday, March 19th. The enterprise software provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.11. The firm had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share.
Several other analysts have also recently weighed in on the stock. Credit Suisse Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Oracle in a research note on Sunday, February 18th. Royal Bank of Canada set a $53.00 target price on shares of Oracle and gave the stock a “buy” rating in a report on Tuesday, December 12th. Drexel Hamilton reiterated a “buy” rating and issued a $62.00 target price on shares of Oracle in a report on Tuesday, December 12th. Cleveland Research downgraded shares of Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Finally, Goldman Sachs set a $58.00 price objective on shares of Oracle and gave the stock a “buy” rating in a research report on Friday, December 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Oracle presently has an average rating of “Buy” and an average price target of $56.17.
Oracle (NYSE ORCL) traded down $0.21 during midday trading on Friday, reaching $45.68. 2,355,113 shares of the company were exchanged, compared to its average volume of 17,151,416. The company has a market capitalization of $194,644.09, a PE ratio of 55.96, a P/E/G ratio of 1.78 and a beta of 1.05. Oracle has a twelve month low of $43.60 and a twelve month high of $53.48. The company has a debt-to-equity ratio of 1.16, a quick ratio of 5.04 and a current ratio of 4.33.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.66%. Oracle’s payout ratio is presently 92.68%.
Oracle announced that its board has authorized a share buyback plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Oracle news, insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $52.19, for a total transaction of $195,712.50. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $945,943.75. The disclosure for this sale can be found here. Insiders have sold a total of 1,856,250 shares of company stock worth $93,571,688 in the last quarter. 29.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ORCL. Acrospire Investment Management LLC increased its stake in Oracle by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after acquiring an additional 1,800 shares during the period. Tarbox Family Office Inc. increased its stake in Oracle by 71.1% in the fourth quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock valued at $110,000 after acquiring an additional 965 shares during the period. Wealthcare Advisory Partners LLC increased its stake in Oracle by 81,200.0% in the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after acquiring an additional 2,436 shares during the period. Cerebellum GP LLC bought a new stake in Oracle in the fourth quarter valued at about $126,000. Finally, ETF Managers Group LLC bought a new stake in Oracle in the second quarter valued at about $133,000. Institutional investors and hedge funds own 57.93% of the company’s stock.
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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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