Oracle (NYSE:ORCL) announced its earnings results on Thursday. The enterprise software provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02, RTT News reports. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.65 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.80 EPS.
Shares of ORCL opened at $56.47 on Friday. The business has a 50-day moving average of $55.62 and a 200 day moving average of $55.05. Oracle has a fifty-two week low of $42.40 and a fifty-two week high of $60.50. The firm has a market cap of $181.56 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.25 and a current ratio of 2.25.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.70%. Oracle’s dividend payout ratio (DPR) is currently 30.38%.
Several equities analysts recently weighed in on the stock. Barclays restated a “neutral” rating and set a $61.00 price target on shares of Oracle in a research report on Friday, November 1st. BMO Capital Markets raised their price objective on shares of Oracle from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Friday, September 27th. They noted that the move was a valuation call. Royal Bank of Canada set a $57.00 price objective on shares of Oracle and gave the stock a “neutral” rating in a research report on Thursday. Sanford C. Bernstein set a $66.00 target price on shares of Oracle and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $62.00 target price on shares of Oracle in a research report on Monday. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.76.
In related news, Director Renee Jo James sold 3,000 shares of Oracle stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $53.56, for a total value of $160,680.00. Following the completion of the sale, the director now owns 32,886 shares of the company’s stock, valued at approximately $1,761,374.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 4,643 shares of Oracle stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $53.14, for a total value of $246,729.02. Following the completion of the sale, the director now directly owns 38,562 shares of the company’s stock, valued at approximately $2,049,184.68. The disclosure for this sale can be found here. In the last three months, insiders sold 76,479 shares of company stock valued at $4,223,049. 36.60% of the stock is currently owned by insiders.
Oracle announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 11th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the enterprise software provider to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Oracle Company Profile
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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