Oracle (ORCL) PT Lowered to $55.00 at MED

Oracle (NYSE:ORCL) had its target price decreased by MED from $56.00 to $55.00 in a report issued on Wednesday morning, The Fly reports. MED currently has an overweight rating on the enterprise software provider’s stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also weighed in on ORCL. UBS Group reaffirmed a neutral rating and issued a $53.00 price objective on shares of Oracle in a report on Tuesday, June 12th. JPMorgan Chase & Co. lowered Oracle from an overweight rating to a neutral rating and lowered their price objective for the company from $55.00 to $53.00 in a report on Thursday, June 14th. Nomura lowered their price objective on Oracle from $64.00 to $60.00 and set a buy rating on the stock in a report on Thursday, June 14th. KeyCorp reaffirmed a hold rating on shares of Oracle in a report on Friday, June 15th. Finally, Credit Suisse Group set a $60.00 price objective on Oracle and gave the company a buy rating in a report on Monday, June 18th. Sixteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $53.92.

NYSE ORCL opened at $47.38 on Wednesday. Oracle has a 52-week low of $42.57 and a 52-week high of $53.48. The stock has a market cap of $213.44 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.72 and a beta of 1.14. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Oracle will post 3.07 earnings per share for the current fiscal year.

Oracle declared that its Board of Directors has initiated a stock buyback program on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, October 15th. Oracle’s dividend payout ratio (DPR) is 26.95%.

In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $47.77, for a total transaction of $179,137.50. Following the completion of the transaction, the director now directly owns 27,969 shares in the company, valued at approximately $1,336,079.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The disclosure for this sale can be found here. Insiders have sold a total of 184,196 shares of company stock valued at $9,235,790 over the last 90 days. Insiders own 32.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Rainier Group Investment Advisory LLC acquired a new position in shares of Oracle during the 1st quarter worth approximately $106,000. ELM Advisors LLC acquired a new position in Oracle in the 3rd quarter valued at $122,000. Kohmann Bosshard Financial Services LLC acquired a new position in Oracle in the 2nd quarter valued at $126,000. Financial Gravity Wealth Inc. acquired a new position in Oracle in the 1st quarter valued at $130,000. Finally, Kiley Juergens Wealth Management LLC raised its holdings in Oracle by 70.9% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after acquiring an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 53.43% of the company’s stock.

Oracle Company Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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