Oracle Corp. (ORCL) Earns “Outperform” Rating from RBC Capital Markets
RBC Capital Markets reissued their outperform rating on shares of Oracle Corp. (NYSE:ORCL) in a report released on Friday. The firm currently has a $42.00 price objective on the enterprise software provider’s stock, down from their previous price objective of $43.00.
ORCL has been the subject of several other reports. Goldman Sachs Group Inc. restated a buy rating and issued a $48.00 price objective on shares of Oracle Corp. in a report on Friday, June 10th. Zacks Investment Research lowered shares of Oracle Corp. from a buy rating to a hold rating in a report on Tuesday, August 23rd. Vetr upgraded shares of Oracle Corp. from a buy rating to a strong-buy rating and set a $46.33 price objective for the company in a report on Tuesday, September 6th. Cowen and Company assumed coverage on shares of Oracle Corp. in a report on Thursday, June 23rd. They set an outperform rating and a $46.00 target price for the company. Finally, Credit Agricole SA reiterated a sell rating on shares of Oracle Corp. in a report on Friday, June 17th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $44.88.
Oracle Corp. (NYSE:ORCL) opened at 39.07 on Friday. The company has a 50-day moving average price of $40.87 and a 200 day moving average price of $40.35. The stock has a market cap of $160.93 billion, a P/E ratio of 18.56 and a beta of 1.08. Oracle Corp. has a 1-year low of $33.13 and a 1-year high of $42.00.
Oracle Corp. (NYSE:ORCL) last issued its quarterly earnings data on Thursday, September 15th. The enterprise software provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 period in the previous year, the business earned $0.53 EPS. Oracle Corp.’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Oracle Corp. will post $2.64 earnings per share for the current fiscal year.
The business 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. The ex-dividend date is Friday, October 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. Oracle Corp.’s dividend payout ratio is currently 28.57%.
In other Oracle Corp. news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated 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 directly owns 8,281 shares in the company, valued at approximately $332,564.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 in the company, valued at $4,925,784.65. The disclosure for this sale can be found here. 28.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new stake in shares of Oracle Corp. during the second quarter valued at $540,085,000. Caisse DE Depot ET Placement DU Quebec boosted its stake 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 valued at $685,381,000 after buying an additional 5,430,200 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Oracle Corp. during the second quarter valued at $126,162,000. Loomis Sayles & Co. L P boosted its stake 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 valued at $904,361,000 after buying an additional 2,888,674 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake 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 valued at $396,697,000 after buying an additional 2,520,399 shares during the last quarter. Institutional investors and hedge funds own 58.00% 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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