Oracle Corp. (ORCL) Receives “Buy” Rating from Bank of America Corp.
Bank of America Corp. reaffirmed their buy rating on shares of Oracle Corp. (NYSE:ORCL) in a report issued on Thursday morning. Bank of America Corp. currently has a $48.00 target price on the enterprise software provider’s stock.
A number of other brokerages have also recently commented on ORCL. Sanford C. Bernstein reissued an outperform rating and issued a $51.00 price target on shares of Oracle Corp. in a research report on Friday, July 15th. Macquarie reissued an outperform rating on shares of Oracle Corp. in a research report on Tuesday, July 19th. Atlantic Securities cut Oracle Corp. from an overweight rating to a neutral rating and lowered their price objective for the company from $48.00 to $44.00 in a research report on Tuesday, July 19th. BTIG Research upped their price objective on Oracle Corp. from $44.00 to $47.00 and gave the company a buy rating in a research report on Thursday, July 14th. Finally, Vetr cut Oracle Corp. from a buy rating to a hold rating and set a $41.24 price objective on the stock. in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $44.89.
Oracle Corp. (NYSE:ORCL) opened at 39.51 on Thursday. Oracle Corp. has a 12-month low of $33.13 and a 12-month high of $42.00. The company has a market capitalization of $162.74 billion, a price-to-earnings ratio of 18.77 and a beta of 1.08. The stock has a 50 day moving average price of $40.80 and a 200-day moving average price of $40.34.
Oracle Corp. (NYSE:ORCL) last issued its quarterly earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.03. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The company earned $8.60 billion during the quarter. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Oracle Corp. will post $2.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors 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 dividend on an annualized basis and a yield of 1.52%. Oracle Corp.’s dividend payout ratio is presently 28.57%.
In other Oracle Corp. news, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corp. stock in a transaction on Friday, July 15th. The shares were sold at an average price of $41.78, for a total value of $156,675.00. Following the completion of the transaction, the director now owns 8,281 shares of the company’s stock, valued at $345,980.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F. Fowler sold 500,000 shares of Oracle Corp. stock in a transaction on Thursday, August 11th. The shares were 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 of the company’s stock, valued at approximately $4,925,784.65. The disclosure for this sale can be found here. Corporate insiders own 28.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORCL. Benjamin F. Edwards & Company Inc. boosted its position in Oracle Corp. by 21.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 49,683 shares of the enterprise software provider’s stock worth $2,033,000 after buying an additional 8,658 shares during the last quarter. Swarthmore Group Inc. boosted its position in Oracle Corp. by 3,586.0% in the first quarter. Swarthmore Group Inc. now owns 584,225 shares of the enterprise software provider’s stock worth $23,901,000 after buying an additional 568,375 shares during the last quarter. Brookstone Capital Management boosted its position in Oracle Corp. by 16.9% in the first quarter. Brookstone Capital Management now owns 8,752 shares of the enterprise software provider’s stock worth $358,000 after buying an additional 1,267 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Oracle Corp. by 0.9% in the first quarter. Manning & Napier Advisors LLC now owns 238,490 shares of the enterprise software provider’s stock worth $9,756,000 after buying an additional 2,170 shares during the last quarter. Finally, Quotient Investors LLC boosted its position in Oracle Corp. by 11.4% in the first quarter. Quotient Investors LLC now owns 35,863 shares of the enterprise software provider’s stock worth $1,467,000 after buying an additional 3,681 shares during the last quarter. 58.00% of the stock is owned by 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.
Receive News & Ratings for Oracle Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle Corp. and related companies with MarketBeat.com's FREE daily email newsletter.