Oracle Co. to Post FY2023 Earnings of $4.39 Per Share, Jefferies Financial Group Forecasts (NYSE:ORCL)

Oracle Co. (NYSE:ORCLGet Rating) – Stock analysts at Jefferies Financial Group reduced their FY2023 earnings per share estimates for shares of Oracle in a research note issued on Sunday, May 22nd. Jefferies Financial Group analyst B. Thill now forecasts that the enterprise software provider will post earnings of $4.39 per share for the year, down from their previous estimate of $4.40.

Oracle (NYSE:ORCLGet Rating) last announced its quarterly earnings results on Thursday, March 10th. The enterprise software provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.06). Oracle had a net margin of 18.08% and a negative return on equity of 383.80%. The firm had revenue of $10.51 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis.

ORCL has been the subject of several other reports. Barclays set a $82.00 price objective on shares of Oracle in a report on Friday, March 11th. StockNews.com initiated coverage on Oracle in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Bank of America lowered their price target on Oracle from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, March 11th. Cowen lowered their price target on Oracle from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, March 9th. Finally, BMO Capital Markets lowered their price target on Oracle from $115.00 to $92.00 and set a “market perform” rating on the stock in a report on Friday, March 11th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $91.70.

Shares of ORCL stock opened at $69.03 on Wednesday. The business has a 50-day moving average of $77.11 and a 200 day moving average of $82.91. Oracle has a 1-year low of $66.72 and a 1-year high of $106.34. The stock has a market capitalization of $184.18 billion, a PE ratio of 26.45, a P/E/G ratio of 2.09 and a beta of 0.87.

A number of large investors have recently modified their holdings of ORCL. OLD Mission Capital LLC purchased a new position in shares of Oracle in the 3rd quarter valued at about $225,000. Ironwood Wealth Management LLC. grew its position in shares of Oracle by 19.0% in the second quarter. Ironwood Wealth Management LLC. now owns 5,336 shares of the enterprise software provider’s stock valued at $415,000 after purchasing an additional 852 shares during the period. Morgan Stanley increased its stake in Oracle by 12.1% during the 2nd quarter. Morgan Stanley now owns 12,477,054 shares of the enterprise software provider’s stock worth $971,213,000 after buying an additional 1,342,602 shares in the last quarter. Keudell Morrison Wealth Management boosted its stake in Oracle by 1.4% during the 3rd quarter. Keudell Morrison Wealth Management now owns 10,860 shares of the enterprise software provider’s stock worth $946,000 after purchasing an additional 152 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its stake in shares of Oracle by 0.5% in the third quarter. EagleClaw Capital Managment LLC now owns 52,637 shares of the enterprise software provider’s stock worth $4,585,000 after buying an additional 250 shares in the last quarter. Institutional investors own 42.33% of the company’s stock.

In other news, Director Renee Jo James sold 6,000 shares of Oracle stock in a transaction on Monday, April 4th. The shares were sold at an average price of $84.11, for a total transaction of $504,660.00. Following the completion of the sale, the director now directly owns 41,886 shares in the company, valued at $3,523,031.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 39.10% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 21st. Investors of record on Friday, April 8th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, April 7th. Oracle’s 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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