Oracle (NYSE:ORCL) Posts Earnings Results, Misses Estimates By $0.04 EPS

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

Oracle Price Performance

NYSE ORCL opened at $76.04 on Wednesday. The firm has a market capitalization of $202.64 billion, a PE ratio of 31.68, a P/E/G ratio of 2.14 and a beta of 0.87. The company’s 50 day simple moving average is $75.21 and its 200 day simple moving average is $74.95. Oracle has a 12 month low of $63.76 and a 12 month high of $106.34.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Wednesday, October 12th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, October 11th. Oracle’s dividend payout ratio is presently 53.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORCL. Credit Suisse Group set a $115.00 price objective on shares of Oracle in a report on Tuesday. Evercore ISI increased their target price on shares of Oracle from $78.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday. Jefferies Financial Group set a $80.00 price objective on shares of Oracle in a research report on Tuesday. Piper Sandler reaffirmed a “hold” rating and set a $70.00 target price on shares of Oracle in a research report on Tuesday. Finally, BMO Capital Markets boosted their target price on Oracle from $86.00 to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.17.

Insider Buying and Selling

In related news, insider Edward Screven sold 419,174 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the completion of the transaction, the insider now owns 2,492,613 shares of the company’s stock, valued at approximately $172,538,671.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Edward Screven sold 419,174 shares of the company’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total value of $29,015,224.28. Following the completion of the sale, the insider now owns 2,492,613 shares in the company, valued at approximately $172,538,671.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Safra Catz sold 980,000 shares of the firm’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $69.80, for a total transaction of $68,404,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $78,077,721.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,399,174 shares of company stock valued at $232,369,224. Company insiders own 43.40% of the company’s stock.

Institutional Trading of Oracle

Institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in shares of Oracle by 3.6% during the second quarter. Macquarie Group Ltd. now owns 6,035,064 shares of the enterprise software provider’s stock valued at $421,669,000 after purchasing an additional 209,156 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Oracle by 109.6% in the 1st quarter. Gabelli Funds LLC now owns 11,946 shares of the enterprise software provider’s stock valued at $988,000 after purchasing an additional 6,246 shares in the last quarter. Range Financial Group LLC purchased a new position in shares of Oracle in the first quarter valued at about $311,000. Gamco Investors INC. ET AL boosted its stake in shares of Oracle by 2.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 21,484 shares of the enterprise software provider’s stock valued at $1,777,000 after purchasing an additional 584 shares in the last quarter. Finally, Walleye Capital LLC grew its position in shares of Oracle by 27.2% in the 1st quarter. Walleye Capital LLC now owns 26,092 shares of the enterprise software provider’s stock worth $2,159,000 after buying an additional 5,583 shares during the period. 41.92% of the stock is currently owned by institutional investors and hedge funds.

Oracle Company Profile

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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.

See Also

Earnings History for Oracle (NYSE:ORCL)

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