Royal Bank of Canada set a $57.00 target price on Oracle (NYSE:ORCL) in a report published on Thursday morning, AnalystRatings.com reports. The firm currently has a neutral rating on the enterprise software provider’s stock.
A number of other research analysts also recently issued reports on ORCL. Cowen assumed coverage on Oracle in a research note on Friday, August 16th. They issued a buy rating and a $65.00 price objective on the stock. ValuEngine lowered Oracle from a buy rating to a hold rating in a report on Thursday, August 1st. Macquarie lowered Oracle from an outperform rating to a neutral rating and decreased their price objective for the stock from $56.00 to $55.00 in a report on Tuesday, June 18th. They noted that the move was a valuation call. Monness Crespi & Hardt reissued a hold rating on shares of Oracle in a report on Tuesday, September 10th. Finally, Credit Suisse Group set a $62.00 price objective on Oracle and gave the stock a buy rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $55.88.
NYSE ORCL opened at $53.75 on Thursday. The business’s 50-day moving average price is $54.06 and its two-hundred day moving average price is $54.46. Oracle has a 12 month low of $42.40 and a 12 month high of $60.50. The firm has a market capitalization of $179.77 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The company had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.29 billion. Oracle had a return on equity of 45.61% and a net margin of 27.71%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. As a group, analysts forecast that Oracle will post 3.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.79%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
In related news, CAO W Corey West sold 50,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $56.25, for a total value of $2,812,500.00. Following the sale, the chief accounting officer now owns 85,348 shares in the company, valued at $4,800,825. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Naomi O. Seligman sold 90,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $59.52, for a total value of $5,356,800.00. Following the completion of the sale, the director now owns 82,310 shares in the company, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. Insiders sold 2,140,000 shares of company stock worth $117,501,425 in the last quarter. 32.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Evolution Wealth Advisors LLC raised its position in Oracle by 346.0% during the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. Investors Research Corp bought a new position in shares of Oracle during the first quarter valued at about $30,000. Next Capital Management LLC bought a new position in shares of Oracle during the second quarter valued at about $36,000. Covenant Multifamily Offices LLC bought a new position in shares of Oracle during the first quarter valued at about $35,000. Finally, Shamrock Asset Management LLC grew its stake in shares of Oracle by 577.0% during the second quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock valued at $39,000 after buying an additional 577 shares during the last quarter. Institutional investors own 53.05% of the company’s stock.
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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