Oracle Corp. (ORCL) Price Target Increased to $43.00 by Analysts at Royal Bank Of Canada
Oracle Corp. (NYSE:ORCL) had its price objective raised by Royal Bank Of Canada from $42.00 to $43.00 in a research note released on Friday morning. Royal Bank Of Canada currently has an outperform rating on the enterprise software provider’s stock.
ORCL has been the subject of a number of other reports. Goldman Sachs Group Inc. restated a buy rating and issued a $48.00 price target on shares of Oracle Corp. in a research report on Friday, June 10th. Zacks Investment Research cut Oracle Corp. from a buy rating to a hold rating in a report on Tuesday, August 23rd. Vetr upgraded Oracle Corp. from a buy rating to a strong-buy rating and set a $46.33 price objective on the stock in a report on Tuesday, September 6th. DA Davidson reiterated a buy rating and issued a $52.00 price objective on shares of Oracle Corp. in a report on Saturday, September 17th. Finally, Cowen and Company started coverage on Oracle Corp. in a report on Thursday, June 23rd. They issued an outperform rating and a $46.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $44.76.
Shares of Oracle Corp. (NYSE:ORCL) traded down 0.71% on Friday, hitting $39.00. The stock had a trading volume of 1,958,989 shares. Oracle Corp. has a 12-month low of $33.13 and a 12-month high of $42.00. The firm has a market cap of $160.12 billion, a price-to-earnings ratio of 18.53 and a beta of 1.23. The stock has a 50 day moving average of $40.48 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 net margin of 24.16% and a return on equity of 22.10%. Oracle Corp.’s quarterly 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. Equities analysts predict that Oracle Corp. will post $2.63 earnings per share for the current fiscal year.
The firm also recently disclosed 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, October 7th. Oracle Corp.’s dividend payout ratio is presently 28.57%.
In other Oracle Corp. news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $345,980.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John F. Fowler sold 500,000 shares of the company’s stock in a transaction dated 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 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 29.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Culbertson A N & Co. Inc. bought a new stake in shares of Oracle Corp. during the first quarter worth $4,501,000. Perkins Coie Trust Co raised its stake in shares of Oracle Corp. by 0.3% in the first quarter. Perkins Coie Trust Co now owns 59,484 shares of the enterprise software provider’s stock worth $2,433,000 after buying an additional 157 shares in the last quarter. Mission Wealth Management LLC raised its stake in shares of Oracle Corp. by 20.7% in the first quarter. Mission Wealth Management LLC now owns 9,192 shares of the enterprise software provider’s stock worth $376,000 after buying an additional 1,579 shares in the last quarter. Iberiabank Corp raised its stake in shares of Oracle Corp. by 15.2% in the first quarter. Iberiabank Corp now owns 20,028 shares of the enterprise software provider’s stock worth $819,000 after buying an additional 2,641 shares in the last quarter. Finally, CrestPoint Capital Management LLC raised its stake in shares of Oracle Corp. by 54.0% in the first quarter. CrestPoint Capital Management LLC now owns 43,900 shares of the enterprise software provider’s stock worth $1,796,000 after buying an additional 15,400 shares in the last quarter. Hedge funds and other institutional investors own 58.24% 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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