Oracle Corporation’s (ORCL) “Buy” Rating Reiterated at Bank of America Corporation
Bank of America Corporation restated their buy rating on shares of Oracle Corporation (NYSE:ORCL) in a research note issued to investors on Monday morning. They currently have a $62.00 target price on the enterprise software provider’s stock.
Several other equities research analysts also recently weighed in on the stock. Vetr raised shares of Oracle Corporation from a strong sell rating to a sell rating and set a $46.58 price target for the company in a research report on Monday. Stifel Nicolaus reissued a buy rating and set a $53.00 price target (up previously from $52.00) on shares of Oracle Corporation in a research report on Saturday, September 16th. Canaccord Genuity reissued a buy rating and set a $57.00 price target (up previously from $56.00) on shares of Oracle Corporation in a research report on Saturday, September 16th. Barclays PLC raised their price target on shares of Oracle Corporation from $55.00 to $59.00 and gave the company an overweight rating in a research report on Friday, September 15th. Finally, Mitsubishi UFJ Financial Group reissued a buy rating and set a $63.00 price target on shares of Oracle Corporation in a research report on Friday, September 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $53.33.
Oracle Corporation (ORCL) opened at 47.97 on Monday. The stock has a 50 day moving average price of $49.85 and a 200-day moving average price of $47.11. The stock has a market cap of $198.44 billion, a P/E ratio of 21.71 and a beta of 1.05. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $53.14.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities analysts anticipate that Oracle Corporation will post $2.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a $0.19 dividend. The ex-dividend date is Tuesday, October 10th. This represents a $0.76 annualized dividend and a yield of 1.58%. Oracle Corporation’s dividend payout ratio (DPR) is 33.19%.
In other Oracle Corporation news, insider Thomas Kurian sold 750,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now directly owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP W Corey West sold 150,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the completion of the sale, the executive vice president now directly owns 177,988 shares of the company’s stock, valued at $9,146,803.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,712,500 shares of company stock valued at $86,140,450. 29.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in ORCL. Macquarie Group Ltd. boosted its position in Oracle Corporation by 6,353.4% in the 1st quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after buying an additional 18,351,920 shares during the period. BT Investment Management Ltd purchased a new stake in Oracle Corporation in the 2nd quarter valued at about $459,738,000. Harris Associates L P boosted its position in Oracle Corporation by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after buying an additional 7,427,501 shares during the period. FMR LLC boosted its position in Oracle Corporation by 24.8% in the 2nd quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after buying an additional 6,577,297 shares during the period. Finally, Vanguard Group Inc. boosted its position in Oracle Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after buying an additional 5,270,359 shares during the period. 58.64% of the stock is owned by institutional investors.
About Oracle Corporation
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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