Oracle Corporation’s (ORCL) Buy Rating Reaffirmed at Drexel Hamilton
Drexel Hamilton reissued their buy rating on shares of Oracle Corporation (NYSE:ORCL) in a report released on Monday. The brokerage currently has a $62.00 price target on the enterprise software provider’s stock.
Other equities analysts have also issued research reports about the stock. Rosenblatt Securities reaffirmed a buy rating and set a $58.00 target price on shares of Oracle Corporation in a research report on Monday, September 11th. Vetr downgraded shares of Oracle Corporation from a sell rating to a strong sell rating and set a $46.58 price objective on the stock. in a report on Tuesday, September 12th. Sanford C. Bernstein restated an outperform rating and set a $54.00 price objective on shares of Oracle Corporation in a report on Tuesday, June 13th. BTIG Research reaffirmed a buy rating and set a $58.00 price objective on shares of Oracle Corporation in a research report on Tuesday, September 19th. Finally, Moffett Nathanson initiated coverage on shares of Oracle Corporation in a research report on Wednesday, September 6th. They set a buy rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have issued a buy rating to the stock. Oracle Corporation currently has a consensus rating of Buy and an average target price of $53.33.
Shares of Oracle Corporation (NYSE ORCL) opened at 48.80 on Monday. The firm has a market cap of $203.64 billion, a price-to-earnings ratio of 21.23 and a beta of 1.05. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $53.14. The firm’s 50-day moving average price is $49.54 and its 200-day moving average price is $47.45.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Equities research analysts expect that Oracle Corporation will post $2.94 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is currently 33.19%.
In related news, Director Bruce R. Chizen sold 206,250 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $49.75, for a total transaction of $10,260,937.50. Following the completion of the sale, the director now owns 63,985 shares of the company’s stock, valued at $3,183,253.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $50.30, for a total transaction of $188,625.00. Following the sale, the director now owns 18,125 shares in the company, valued at $911,687.50. The disclosure for this sale can be found here. Insiders sold a total of 1,162,026 shares of company stock valued at $58,034,049 over the last ninety days. Insiders own 29.00% of the company’s stock.
Several large investors have recently modified their holdings of ORCL. Waldron LP lifted its stake in Oracle Corporation by 344.1% during the first quarter. Waldron LP now owns 34,947 shares of the enterprise software provider’s stock worth $1,558,000 after purchasing an additional 27,077 shares during the last quarter. IFC Holdings Incorporated FL raised its holdings in shares of Oracle Corporation by 2.1% during the 1st quarter. IFC Holdings Incorporated FL now owns 12,321 shares of the enterprise software provider’s stock worth $550,000 after buying an additional 256 shares in the last quarter. Foster & Motley Inc. raised its holdings in shares of Oracle Corporation by 2.7% during the 1st quarter. Foster & Motley Inc. now owns 231,940 shares of the enterprise software provider’s stock worth $10,347,000 after buying an additional 6,200 shares in the last quarter. Harwood Advisory Group LLC raised its holdings in shares of Oracle Corporation by 0.5% during the 1st quarter. Harwood Advisory Group LLC now owns 43,202 shares of the enterprise software provider’s stock worth $1,927,000 after buying an additional 211 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Oracle Corporation by 0.8% during the 1st quarter. Fisher Asset Management LLC now owns 11,724,599 shares of the enterprise software provider’s stock worth $523,034,000 after buying an additional 96,955 shares in the last quarter. Institutional investors own 58.66% of the company’s stock.
Oracle Corporation 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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