RBC Capital Markets reissued their outperform rating on shares of Oracle Corp. (NYSE:ORCL) in a research note published on Saturday morning. The firm currently has a $43.00 price target on the enterprise software provider’s stock, up from their previous price target of $42.00.
Several other analysts have also weighed in on ORCL. Citigroup Inc. reaffirmed a hold rating on shares of Oracle Corp. in a report on Saturday, June 18th. SunTrust Banks Inc. set a $48.00 price target on shares of Oracle Corp. and gave the company a buy rating in a report on Saturday, September 17th. Rosenblatt Securities set a $48.00 price target on shares of Oracle Corp. and gave the company a buy rating in a report on Saturday, September 17th. DA Davidson reissued a buy rating and issued a $52.00 price target on shares of Oracle Corp. in a report on Saturday, September 17th. Finally, Morgan Stanley reissued an equal weight rating and issued a $41.00 price target on shares of Oracle Corp. in a report on Wednesday, June 15th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $44.76.
Shares of Oracle Corp. (NYSE:ORCL) opened at 39.28 on Friday. The firm has a market cap of $161.27 billion, a P/E ratio of 18.66 and a beta of 1.08. The stock’s 50 day moving average price is $40.48 and its 200-day moving average price is $40.37. Oracle Corp. has a 12 month low of $33.13 and a 12 month high of $42.00.
Oracle Corp. (NYSE:ORCL) last posted its quarterly earnings data on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm had revenue of $8.60 billion for the quarter. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. Equities research analysts anticipate that Oracle Corp. will post $2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, October 7th. Oracle Corp.’s dividend payout ratio is currently 28.57%.
In other news, EVP John F. Fowler sold 500,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $41.17, for a total value of $20,585,000.00. Following the sale, the executive vice president now directly owns 119,645 shares of the company’s stock, valued at approximately $4,925,784.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Dorian Daley sold 16,065 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $39.61, for a total transaction of $636,334.65. Following the completion of the sale, the executive vice president now directly owns 25,000 shares in the company, valued at $990,250. The disclosure for this sale can be found here. 28.00% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new stake in Oracle Corp. during the second quarter worth approximately $540,085,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Oracle Corp. by 48.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,745,200 shares of the enterprise software provider’s stock valued at $685,381,000 after buying an additional 5,430,200 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Oracle Corp. during the second quarter valued at about $126,162,000. Loomis Sayles & Co. L P raised its position in shares of Oracle Corp. by 15.0% in the first quarter. Loomis Sayles & Co. L P now owns 22,106,113 shares of the enterprise software provider’s stock valued at $904,361,000 after buying an additional 2,888,674 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Oracle Corp. by 35.1% in the second quarter. Schroder Investment Management Group now owns 9,692,099 shares of the enterprise software provider’s stock valued at $396,697,000 after buying an additional 2,520,399 shares in the last quarter. 58.00% of the stock is currently owned by institutional investors.
Oracle Corp. Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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