Oracle (NYSE:ORCL) Issues Q1 2023 Earnings Guidance

Posted by on Jun 21st, 2022

Oracle (NYSE:ORCL – Get Rating) issued an update on its first quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.04-$1.08 for the period, compared to the consensus earnings per share estimate of $1.13. The company issued revenue guidance of $11.38 billion-$11.58 billion, compared to the consensus revenue estimate of $10.22 billion.

ORCL has been the topic of a number of research analyst reports. Monness Crespi & Hardt cut their target price on Oracle from $126.00 to $113.00 and set a buy rating on the stock in a research report on Tuesday, June 14th. Jefferies Financial Group upped their price objective on Oracle from $75.00 to $80.00 in a report on Tuesday, June 14th. Cowen reduced their price target on Oracle from $107.00 to $98.00 and set an outperform rating for the company in a report on Thursday, June 9th. Barclays set a $82.00 price objective on Oracle in a research note on Tuesday, June 14th. Finally, Credit Suisse Group set a $115.00 target price on Oracle in a research report on Tuesday, June 14th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Oracle currently has an average rating of Hold and an average target price of $90.13.

Shares of Oracle stock opened at $67.72 on Tuesday. The company has a 50-day moving average of $72.69 and a 200 day moving average of $79.79. The firm has a market cap of $180.69 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.91 and a beta of 0.87. Oracle has a 1 year low of $63.76 and a 1 year high of $106.34.

Oracle (NYSE:ORCL – Get Rating) last announced 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. Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. The company had revenue of $11.84 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the firm posted $1.40 EPS. Oracle’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts anticipate that Oracle will post 4.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 26th. Stockholders of record on Tuesday, July 12th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, July 11th. Oracle’s payout ratio is currently 53.33%.

In related news, Director Renee Jo James sold 6,000 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $84.11, for a total value of $504,660.00. Following the completion of the transaction, the director now directly owns 41,886 shares of the company’s stock, valued at $3,523,031.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 43.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. OLD Mission Capital LLC purchased a new stake in shares of Oracle during the third quarter worth about $225,000. Keudell Morrison Wealth Management boosted its position in Oracle by 1.4% in the third quarter. Keudell Morrison Wealth Management now owns 10,860 shares of the enterprise software provider’s stock valued at $946,000 after buying an additional 152 shares during the last quarter. Covestor Ltd boosted its position in Oracle by 125.2% in the first quarter. Covestor Ltd now owns 1,995 shares of the enterprise software provider’s stock valued at $165,000 after buying an additional 1,109 shares during the last quarter. Zullo Investment Group Inc. purchased a new stake in Oracle in the 4th quarter worth approximately $162,000. Finally, Neo Ivy Capital Management purchased a new stake in Oracle in the 4th quarter worth approximately $131,000. Hedge funds and other institutional investors own 42.33% of the company’s stock.

Oracle Company Profile (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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