Jefferies Financial Group Brokers Boost Earnings Estimates for Oracle Co. (NYSE:ORCL)
Oracle Co. (NYSE:ORCL – Get Rating) – Jefferies Financial Group boosted their Q4 2023 earnings per share (EPS) estimates for Oracle in a research note issued on Tuesday, June 14th. Jefferies Financial Group analyst B. Thill now anticipates that the enterprise software provider will earn $1.36 per share for the quarter, up from their prior forecast of $1.31. The consensus estimate for Oracle’s current full-year earnings is $3.99 per share.
Several other brokerages have also weighed in on ORCL. BNP Paribas lowered shares of Oracle from a “neutral” rating to an “underperform” rating and set a $79.00 target price for the company. in a research note on Tuesday, March 29th. Cowen cut their price objective on Oracle from $107.00 to $98.00 in a research report on Thursday, June 9th. Barclays set a $82.00 target price on shares of Oracle in a report on Tuesday. JPMorgan Chase & Co. set a $82.00 price target on Oracle in a report on Thursday. Finally, Deutsche Bank Rese… set a $110.00 target price on shares of Oracle in a report on Tuesday. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $90.50.
NYSE ORCL opened at $69.70 on Thursday. Oracle has a 1-year low of $63.76 and a 1-year high of $106.34. The company has a market cap of $185.97 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.89 and a beta of 0.87. The stock’s 50 day simple moving average is $73.45 and its 200-day simple moving average is $80.40. Oracle (NYSE:ORCL – Get Rating) last released its quarterly earnings data on Monday, June 13th. The enterprise software provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.37 by $0.17. The business had revenue of $11.84 billion for the quarter, compared to the consensus estimate of $11.65 billion. Oracle had a net margin of 18.08% and a negative return on equity of 383.80%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Level Financial Advisors Inc. acquired a new position in Oracle during the 4th quarter valued at approximately $28,000. Evolution Advisers Inc. acquired a new stake in Oracle in the fourth quarter worth approximately $33,000. Steward Financial Group LLC acquired a new stake in shares of Oracle in the first quarter valued at $33,000. Ulland Investment Advisors LLC lifted its holdings in Oracle by 469.0% in the 1st quarter. Ulland Investment Advisors LLC now owns 404 shares of the enterprise software provider’s stock valued at $33,000 after acquiring an additional 333 shares during the last quarter. Finally, Bivin & Associates Inc. acquired a new position in shares of Oracle in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 42.33% of the company’s stock.
In other Oracle news, Director Renee Jo James sold 6,000 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $84.11, for a total transaction of $504,660.00. Following the transaction, the director now owns 41,886 shares in the company, valued at $3,523,031.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 43.40% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 26th. Stockholders of record on Tuesday, July 12th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, July 11th. Oracle’s dividend payout ratio is currently 49.04%.
About Oracle (Get Rating)
Oracle Corporation provides 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 Fusion cloud advertising and customer experience, and NetSuite applications suite.
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