Credit Suisse Group reaffirmed their buy rating on shares of Oracle (NYSE:ORCL) in a research note released on Monday. They currently have a $60.00 price target on the enterprise software provider’s stock.
Several other brokerages have also recently weighed in on ORCL. Nomura set a $53.00 price target on shares of Oracle and gave the stock a buy rating in a research report on Wednesday, December 12th. BMO Capital Markets cut shares of Oracle from an outperform rating to a market perform rating and set a $53.00 price target on the stock. in a research report on Friday, March 15th. Barclays cut shares of Oracle from an overweight rating to an equal weight rating and reduced their price target for the stock from $60.00 to $55.00 in a research report on Wednesday, January 9th. UBS Group reaffirmed a neutral rating and set a $51.00 price objective on shares of Oracle in a research note on Tuesday, December 18th. Finally, Atlantic Securities began coverage on shares of Oracle in a research note on Wednesday, January 9th. They set an underweight rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $52.77.
Shares of ORCL opened at $52.64 on Monday. Oracle has a fifty-two week low of $42.40 and a fifty-two week high of $54.38. The firm has a market capitalization of $221.30 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08. The company has a current ratio of 2.65, a quick ratio of 2.80 and a debt-to-equity ratio of 2.13.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, March 14th. The enterprise software provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Oracle had a net margin of 27.14% and a return on equity of 34.03%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.59 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. Oracle’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts anticipate that Oracle will post 3.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, April 11th will be paid a dividend of $0.24 per share. This is a positive change from Oracle’s previous quarterly dividend of $0.19. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, April 10th. Oracle’s payout ratio is currently 26.95%.
In related news, CEO Mark V. Hurd sold 1,200,000 shares of Oracle stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $53.83, for a total value of $64,596,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,664,227 shares in the company, valued at $89,585,339.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 6,302 shares of Oracle stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $43.24, for a total value of $272,498.48. Following the completion of the sale, the executive vice president now owns 77,919 shares of the company’s stock, valued at $3,369,217.56. The disclosure for this sale can be found here. Insiders have sold 1,642,552 shares of company stock valued at $88,172,686 over the last three months. Insiders own 32.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Csenge Advisory Group bought a new position in Oracle in the third quarter worth about $25,000. Massey Quick Simon & CO. LLC raised its holdings in Oracle by 220.9% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 600 shares of the enterprise software provider’s stock worth $27,000 after purchasing an additional 413 shares in the last quarter. Riverview Trust Co bought a new position in Oracle in the fourth quarter worth about $35,000. Truehand Inc bought a new position in Oracle in the fourth quarter worth about $36,000. Finally, ERTS Wealth Advisors LLC bought a new position in Oracle in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 46.74% 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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