Oracle (ORCL) Downgraded by Royal Bank of Canada
A number of other equities research analysts also recently issued reports on ORCL. Zacks Investment Research downgraded shares of Oracle from a buy rating to a hold rating in a research note on Thursday, August 17th. ValuEngine raised shares of Oracle from a hold rating to a buy rating in a research note on Friday, September 1st. Vetr downgraded shares of Oracle from a buy rating to a hold rating and set a $46.58 target price on the stock. in a research note on Sunday, September 3rd. Credit Suisse Group started coverage on shares of Oracle in a research note on Tuesday, September 5th. They set an outperform rating and a $62.00 target price on the stock. Finally, Moffett Nathanson started coverage on shares of Oracle in a research note on Wednesday, September 6th. They set a buy rating and a $65.00 target price on the stock. Fourteen investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $55.26.
Shares of Oracle (ORCL) opened at $48.30 on Friday. The stock has a market cap of $201,579.36, a P/E ratio of 18.44, a PEG ratio of 1.84 and a beta of 1.05. Oracle has a 52 week low of $38.30 and a 52 week high of $53.14. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.72%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. sell-side analysts anticipate that Oracle will post 2.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. Oracle’s dividend payout ratio is currently 32.62%.
Oracle announced that its Board of Directors has authorized a share buyback program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other news, Director George H. Conrades sold 56,250 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $48.25, for a total value of $2,714,062.50. Following the completion of the sale, the director now owns 66,250 shares in the company, valued at approximately $3,196,562.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 25,776 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the completion of the sale, the executive vice president now owns 30,977 shares of the company’s stock, valued at approximately $1,488,444.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 302,026 shares of company stock valued at $14,633,187. 29.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd increased its holdings in shares of Oracle by 49.1% in the 3rd quarter. AustralianSuper Pty Ltd now owns 812,800 shares of the enterprise software provider’s stock valued at $39,299,000 after purchasing an additional 267,800 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Oracle by 9.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 9,891,713 shares of the enterprise software provider’s stock valued at $478,264,000 after purchasing an additional 831,547 shares in the last quarter. Vista Private Wealth Partners. LLC purchased a new position in shares of Oracle in the 3rd quarter valued at about $690,000. AXA increased its holdings in shares of Oracle by 44.2% in the 3rd quarter. AXA now owns 2,783,375 shares of the enterprise software provider’s stock valued at $134,577,000 after purchasing an additional 853,718 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of Oracle by 0.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 6,105,017 shares of the enterprise software provider’s stock valued at $295,178,000 after purchasing an additional 18,146 shares in the last quarter. Institutional investors own 57.70% of the company’s stock.
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Oracle Company Profile
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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