Royal Bank Of Canada Boosts Oracle Corp. (ORCL) Price Target to $43.00
Oracle Corp. (NYSE:ORCL) had its price target raised by analysts at Royal Bank Of Canada from $42.00 to $43.00 in a report released on Friday. The brokerage currently has an “outperform” rating on the enterprise software provider’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 9.92% from the company’s current price.
A number of other research firms have also issued reports on ORCL. Cowen and Company set a $46.00 price target on shares of Oracle Corp. and gave the stock a “buy” rating in a research report on Friday, September 16th. BTIG Research restated a “buy” rating and issued a $44.00 price objective on shares of Oracle Corp. in a report on Friday, June 17th. Vetr downgraded Oracle Corp. from a “strong-buy” rating to a “buy” rating and set a $45.58 price objective on the stock. in a report on Wednesday, September 7th. DA Davidson initiated coverage on Oracle Corp. in a report on Monday, August 8th. They issued a “buy” rating on the stock. Finally, Morgan Stanley restated a “hold” rating and issued a $41.00 price objective on shares of Oracle Corp. in a report on Friday, September 16th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.73.
Shares of Oracle Corp. (NYSE:ORCL) opened at 39.12 on Friday. The firm has a market capitalization of $160.61 billion, a PE ratio of 18.58 and a beta of 1.08. Oracle Corp. has a 12-month low of $33.13 and a 12-month high of $42.00. The company has a 50-day moving average of $40.54 and a 200 day moving average of $40.37.
Oracle Corp. (NYSE:ORCL) last posted its quarterly earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.03. The company earned $8.60 billion during the quarter. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. Oracle Corp.’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. On average, analysts predict that Oracle Corp. will post $2.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, October 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.53%. Oracle Corp.’s payout ratio is currently 28.57%.
In other news, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corp. stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $41.78, for a total transaction of $156,675.00. Following the transaction, the director now owns 8,281 shares in the company, valued at approximately $345,980.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dorian Daley sold 16,065 shares of Oracle Corp. stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $39.61, for a total value of $636,334.65. Following the transaction, the executive vice president now owns 25,000 shares in the company, valued at approximately $990,250. The disclosure for this sale can be found here. Insiders own 28.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new position in Oracle Corp. during the second quarter valued at $540,085,000. Caisse DE Depot ET Placement DU Quebec boosted its position in 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 during the period. Bank of Montreal Can acquired a new position in Oracle Corp. during the second quarter valued at $126,162,000. Loomis Sayles & Co. L P boosted its position in 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 during the period. Finally, Schroder Investment Management Group boosted its position in 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 during the period. Institutional investors and hedge funds own 58.00% of the company’s stock.
About Oracle Corp.
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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