Oracle Co. (NYSE:ORCL) – Stock analysts at Piper Jaffray Companies reduced their FY2019 earnings estimates for shares of Oracle in a research note issued on Tuesday, September 18th, according to Zacks Investment Research. Piper Jaffray Companies analyst A. Zukin now expects that the enterprise software provider will earn $3.03 per share for the year, down from their prior estimate of $3.04. Piper Jaffray Companies also issued estimates for Oracle’s Q4 2019 earnings at $0.94 EPS, Q1 2020 earnings at $0.72 EPS, Q2 2020 earnings at $0.77 EPS, Q3 2020 earnings at $0.81 EPS, Q4 2020 earnings at $1.00 EPS and FY2020 earnings at $3.30 EPS.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. Oracle’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 EPS.

ORCL has been the topic of a number of other research reports. Barclays boosted their price objective on Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Nomura set a $58.00 price objective on Oracle and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Bank of America boosted their price objective on Oracle from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 18th. Wells Fargo & Co reduced their price objective on Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 18th. Finally, Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Sixteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Oracle presently has a consensus rating of “Buy” and an average price target of $53.92.

ORCL stock traded up $0.60 during trading on Friday, hitting $47.38. The company had a trading volume of 23,123,169 shares, compared to its average volume of 17,422,672. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a market cap of $213.44 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.72 and a beta of 1.14. Oracle has a fifty-two week low of $42.57 and a fifty-two week high of $53.48.

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in Oracle by 21.4% in the second quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock valued at $2,100,949,000 after purchasing an additional 8,401,411 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in Oracle by 0.3% in the first quarter. Loomis Sayles & Co. L P now owns 35,859,954 shares of the enterprise software provider’s stock valued at $1,640,593,000 after purchasing an additional 118,005 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in Oracle by 0.3% in the second quarter. Magellan Asset Management Ltd now owns 27,663,584 shares of the enterprise software provider’s stock valued at $1,218,858,000 after purchasing an additional 85,349 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in Oracle by 3.8% in the second quarter. Vulcan Value Partners LLC now owns 25,019,520 shares of the enterprise software provider’s stock valued at $1,102,360,000 after purchasing an additional 922,785 shares during the last quarter. Finally, Polen Capital Management LLC increased its holdings in Oracle by 3.9% in the first quarter. Polen Capital Management LLC now owns 16,280,492 shares of the enterprise software provider’s stock valued at $744,833,000 after purchasing an additional 611,715 shares during the last quarter. 53.43% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Naomi O. Seligman sold 45,000 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $48.09, for a total transaction of $2,164,050.00. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at $1,345,029.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders have sold 184,196 shares of company stock worth $9,235,790 in the last ninety days. 32.00% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, October 15th. Oracle’s dividend payout ratio (DPR) is presently 26.95%.

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

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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