Oracle (ORCL) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Oracle (NYSE:ORCL) announced its quarterly earnings data on Monday. The enterprise software provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02, RTT News reports. The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.52 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 EPS. Oracle updated its Q3 guidance to $0.83-0.85 EPS.

Shares of ORCL stock opened at $45.73 on Tuesday. The stock has a market cap of $192.91 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.56 and a beta of 1.11. Oracle has a 1-year low of $42.57 and a 1-year high of $53.48. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43.

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



In other Oracle news, EVP Dorian Daley sold 131,696 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the sale, the executive vice president now owns 109,615 shares in the company, valued at approximately $5,582,691.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $50.01, for a total value of $187,537.50. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,398,729.69. The disclosure for this sale can be found here. Insiders have sold a total of 142,946 shares of company stock valued at $7,246,115 over the last 90 days. 32.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Godshalk Welsh Capital Management Inc. lifted its holdings in Oracle by 6.1% in the 3rd quarter. Godshalk Welsh Capital Management Inc. now owns 31,400 shares of the enterprise software provider’s stock worth $1,619,000 after buying an additional 1,800 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Oracle in the 2nd quarter worth approximately $218,896,000. Thompson Siegel & Walmsley LLC lifted its holdings in Oracle by 2.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock worth $13,426,000 after buying an additional 6,366 shares during the period. Trexquant Investment LP lifted its holdings in Oracle by 1,874.8% in the 3rd quarter. Trexquant Investment LP now owns 100,219 shares of the enterprise software provider’s stock worth $5,167,000 after buying an additional 95,144 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in Oracle by 76.8% in the 2nd quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock worth $21,278,000 after buying an additional 209,853 shares during the period. Institutional investors and hedge funds own 50.98% of the company’s stock.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Needham & Company LLC assumed coverage on Oracle in a research report on Monday, October 22nd. They set a “hold” rating on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $53.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. Goldman Sachs Group reiterated a “buy” rating and set a $55.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. Finally, Royal Bank of Canada increased their price objective on Oracle from $52.00 to $53.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.42.

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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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