Equities Analysts Set Expectations for Oracle Co.’s Q1 2023 Earnings (NYSE:ORCL)

Oracle Co. (NYSE:ORCLGet Rating) – KeyCorp lowered their Q1 2023 EPS estimates for Oracle in a report issued on Tuesday, June 14th. KeyCorp analyst M. Turits now expects that the enterprise software provider will post earnings per share of $0.86 for the quarter, down from their prior estimate of $0.97. The consensus estimate for Oracle’s current full-year earnings is $4.44 per share. KeyCorp also issued estimates for Oracle’s Q2 2023 earnings at $1.12 EPS, Q3 2023 earnings at $1.13 EPS, Q4 2023 earnings at $1.32 EPS, FY2023 earnings at $4.45 EPS, Q1 2024 earnings at $0.98 EPS, Q2 2024 earnings at $1.26 EPS, Q3 2024 earnings at $1.27 EPS, Q4 2024 earnings at $1.46 EPS and FY2024 earnings at $4.97 EPS.

Oracle (NYSE:ORCLGet Rating) last announced its quarterly earnings data on Monday, June 13th. The enterprise software provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.17. The firm had revenue of $11.84 billion for the quarter, compared to the consensus estimate of $11.65 billion. Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. 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 company posted $1.40 earnings per share.

Several other research analysts have also issued reports on the stock. Piper Sandler lowered shares of Oracle from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $100.00 to $70.00 in a report on Friday, March 11th. JPMorgan Chase & Co. set a $82.00 price objective on shares of Oracle in a research note on Thursday. Deutsche Bank Rese… set a $110.00 price objective on shares of Oracle in a research note on Tuesday. Stifel Nicolaus lowered their price objective on shares of Oracle from $83.00 to $72.00 in a research note on Tuesday. Finally, Wolfe Research lowered their price objective on shares of Oracle from $105.00 to $83.00 in a research note on Friday, March 11th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.96.

ORCL opened at $68.71 on Friday. The company’s 50 day moving average is $73.19 and its 200-day moving average is $80.24. Oracle has a 1-year low of $63.76 and a 1-year high of $106.34. The company has a market cap of $183.33 billion, a P/E ratio of 28.63, a PEG ratio of 1.96 and a beta of 0.87.

Several large investors have recently added to or reduced their stakes in ORCL. Norges Bank purchased a new stake in shares of Oracle during the fourth quarter valued at approximately $947,274,000. Two Sigma Advisers LP boosted its stake in shares of Oracle by 564.5% during the third quarter. Two Sigma Advisers LP now owns 3,862,200 shares of the enterprise software provider’s stock valued at $336,513,000 after purchasing an additional 3,281,000 shares during the period. Aaron Wealth Advisors LLC boosted its stake in shares of Oracle by 26,472.9% during the first quarter. Aaron Wealth Advisors LLC now owns 2,381,465 shares of the enterprise software provider’s stock valued at $28,786,000 after purchasing an additional 2,372,503 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Oracle by 93.7% during the first quarter. The Manufacturers Life Insurance Company now owns 4,068,310 shares of the enterprise software provider’s stock valued at $336,571,000 after purchasing an additional 1,967,853 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Oracle by 44.3% in the first quarter. Nordea Investment Management AB now owns 6,366,409 shares of the enterprise software provider’s stock worth $531,468,000 after acquiring an additional 1,953,713 shares during the period. 42.33% of the stock is owned by hedge funds and other institutional investors.

In other Oracle news, Director Renee Jo James sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $84.11, for a total value of $504,660.00. Following the completion of the sale, the director now owns 41,886 shares of the company’s stock, valued at $3,523,031.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.10% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 26th. Shareholders of record on Tuesday, July 12th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Monday, July 11th. Oracle’s dividend payout ratio is currently 53.33%.

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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Earnings History and Estimates for Oracle (NYSE:ORCL)

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