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

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

Oracle Stock Performance

NYSE:ORCL opened at $155.82 on Wednesday. Oracle has a twelve month low of $99.26 and a twelve month high of $160.52. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 8.25. The stock’s 50-day simple moving average is $138.90 and its 200 day simple moving average is $129.13. The firm has a market capitalization of $429.42 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01.

Oracle Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein lifted their price objective on Oracle from $159.00 to $171.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. BMO Capital Markets increased their target price on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a research note on Tuesday. JMP Securities raised shares of Oracle from a “market perform” rating to an “outperform” rating and set a $175.00 price target for the company in a report on Tuesday. Piper Sandler increased their target price on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Oracle from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Twelve investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $157.52.

Insiders Place Their Bets

In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the sale, the director now owns 58,090 shares in the company, valued at $8,010,030.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the sale, the director now directly owns 58,090 shares in the company, valued at $8,010,030.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edward Screven sold 37,221 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total value of $5,218,011.99. Following the completion of the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $368,246,045.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,862,500 shares of company stock valued at $266,776,624. 42.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Oracle

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fairway Wealth LLC bought a new position in Oracle during the 2nd quarter worth approximately $27,000. Westend Capital Management LLC bought a new position in Oracle during the first quarter worth $25,000. POM Investment Strategies LLC acquired a new position in Oracle in the second quarter valued at $30,000. Bbjs Financial Advisors LLC bought a new stake in Oracle during the second quarter valued at $35,000. Finally, Tidemark LLC acquired a new stake in Oracle during the 4th quarter worth about $29,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

About Oracle

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.