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Friday, December 09, 2022 11:01:12 AM
Earnings Preview: Oracle Corp. (NYSE: ORCL)
By: 24/7 Wall St. | December 9, 2022
• Here is a preview of three companies set to report quarterly results after U.S. markets close Monday afternoon.
Oracle
Software and cloud-computing giant Oracle Corp. (NYSE: ORCL) has dropped about 9.8% from its share price over the past 12 months. Since reaching an all-time high in mid-December of last year, the share price has dropped by nearly 25%.
On Thursday, the Pentagon announced that Oracle, Microsoft and Amazon would share in a contract valued at around $9 billion to build the U.S. Defense Department’s Joint Warfighting Cloud Capability (JWCC), the successor to the $10 billion Joint Enterprise Defense Infrastructure (JEDI) modernization product that was awarded to Microsoft in 2019 and scrapped last year by the Biden administration after Oracle and Amazon protested the award. Stay tuned.
Of 31 analysts covering the stock, 10 have a Buy or Strong Buy rating and 19 have Hold ratings. At a share price of around $80.10, the upside potential based on a median price target of $82.50 is about 3%. At the high price target of $120.00, the upside potential is 49.8%.
Fiscal second-quarter revenue is forecast at $12.01 billion, up 5% sequentially and 15.9% higher year over year. Adjusted EPS are pegged at $1.17, up 14.1% sequentially and down 3.3% year over year. For the full 2023 fiscal year ending in May, current estimates call for EPS of $4.96, up 1.3%, on sales of $49.44 billion, up 16.5%. Oracle completed its $28 billion acquisition of Cerner in June, helping to account for its overall sales growth for the current fiscal year.
Oracle stock trades at 16.1 times expected 2023 EPS, 14.2 times estimated 2024 earnings of $5.65 and 12.1 times estimated 2025 earnings of $6.61 per share. The stock’s 52-week range is $60.78 to $106.34. The company pays an annual dividend of $1.28 (yield of 1.62%). Total shareholder return for the past year is negative 8.2%.
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By: 24/7 Wall St. | December 9, 2022
• Here is a preview of three companies set to report quarterly results after U.S. markets close Monday afternoon.
Oracle
Software and cloud-computing giant Oracle Corp. (NYSE: ORCL) has dropped about 9.8% from its share price over the past 12 months. Since reaching an all-time high in mid-December of last year, the share price has dropped by nearly 25%.
On Thursday, the Pentagon announced that Oracle, Microsoft and Amazon would share in a contract valued at around $9 billion to build the U.S. Defense Department’s Joint Warfighting Cloud Capability (JWCC), the successor to the $10 billion Joint Enterprise Defense Infrastructure (JEDI) modernization product that was awarded to Microsoft in 2019 and scrapped last year by the Biden administration after Oracle and Amazon protested the award. Stay tuned.
Of 31 analysts covering the stock, 10 have a Buy or Strong Buy rating and 19 have Hold ratings. At a share price of around $80.10, the upside potential based on a median price target of $82.50 is about 3%. At the high price target of $120.00, the upside potential is 49.8%.
Fiscal second-quarter revenue is forecast at $12.01 billion, up 5% sequentially and 15.9% higher year over year. Adjusted EPS are pegged at $1.17, up 14.1% sequentially and down 3.3% year over year. For the full 2023 fiscal year ending in May, current estimates call for EPS of $4.96, up 1.3%, on sales of $49.44 billion, up 16.5%. Oracle completed its $28 billion acquisition of Cerner in June, helping to account for its overall sales growth for the current fiscal year.
Oracle stock trades at 16.1 times expected 2023 EPS, 14.2 times estimated 2024 earnings of $5.65 and 12.1 times estimated 2025 earnings of $6.61 per share. The stock’s 52-week range is $60.78 to $106.34. The company pays an annual dividend of $1.28 (yield of 1.62%). Total shareholder return for the past year is negative 8.2%.
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