Oracle Corp. (ORCL) Rating Reiterated by Credit Agricole SA
Credit Agricole SA reaffirmed their underperform rating on shares of Oracle Corp. (NYSE:ORCL) in a report released on Monday morning. The brokerage currently has a $42.00 target price on the enterprise software provider’s stock.
Other equities research analysts also recently issued reports about the stock. Cowen and Company set a $46.00 price target on shares of Oracle Corp. and gave the company a buy rating in a research report on Friday, September 16th. BTIG Research reiterated a buy rating and issued a $44.00 price target on shares of Oracle Corp. in a research report on Friday, June 17th. Vetr downgraded shares of Oracle Corp. from a strong-buy rating to a buy rating and set a $45.58 price target for the company. in a research report on Wednesday, September 7th. DA Davidson began coverage on shares of Oracle Corp. in a research report on Monday, August 8th. They issued a buy rating for the company. Finally, Morgan Stanley reiterated a hold rating and issued a $41.00 price target on shares of Oracle Corp. in a research report on Friday, September 16th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Oracle Corp. presently has a consensus rating of Buy and an average price target of $44.88.
Oracle Corp. (NYSE:ORCL) opened at 39.51 on Monday. The firm has a market cap of $162.74 billion, a P/E ratio of 18.77 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 firm’s 50-day moving average price is $40.80 and its 200 day moving average price is $40.34.
Oracle Corp. (NYSE:ORCL) last issued its quarterly earnings data on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $8.60 billion for the quarter. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. Analysts forecast that Oracle Corp. will post $2.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, October 7th. Oracle Corp.’s dividend payout ratio is presently 28.57%.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $40.16, for a total value of $150,600.00. Following the transaction, the director now owns 8,281 shares of the company’s stock, valued at approximately $332,564.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F. Fowler sold 500,000 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $41.17, for a total transaction of $20,585,000.00. Following the completion of the transaction, the executive vice president now directly owns 119,645 shares in the company, valued at approximately $4,925,784.65. The disclosure for this sale can be found here. 28.00% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of Oracle Corp. during the second quarter worth approximately $540,085,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of 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 worth $685,381,000 after buying an additional 5,430,200 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Oracle Corp. during the second quarter worth approximately $126,162,000. Loomis Sayles & Co. L P raised its position in shares of 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 worth $904,361,000 after buying an additional 2,888,674 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in shares of 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 worth $396,697,000 after buying an additional 2,520,399 shares during the last quarter. 58.00% of the stock is currently owned by hedge funds and other institutional investors.
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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