Drexel Hamilton reissued their buy rating on shares of Oracle Corporation (NYSE:ORCL) in a report issued on Thursday, September 14th. They currently have a $62.00 price objective on the enterprise software provider’s stock.
“We believe Oracle will at least meet our 1Q:FY18 revenue estimate of $9.03 billion (up 5% YoY; Street is at $9.03 billion) and slightly exceed our EPS projection of $0.61 (Street is at $0.60). Our model reflects a sales decline of 18% QoQ in 1Q:FY18 and better than the five-year average August quarter performance of down 22%. Recall, Oracle’s 1Q:FY18 outlook calls for sales to be up 4-6% YoY in CC and pro-forma EPS of $0.59-0.61. This earnings season, the companies in our software coverage delivered strong quarterly reports and this continued with the off-quarter updates in recent weeks.”,” the firm’s analyst wrote.
A number of other research firms have also weighed in on ORCL. Jefferies Group LLC reissued a buy rating and set a $52.00 price objective on shares of Oracle Corporation in a research note on Friday, May 19th. Rosenblatt Securities reissued a buy rating and set a $55.00 price target on shares of Oracle Corporation in a research report on Wednesday, June 21st. Zacks Investment Research raised shares of Oracle Corporation from a hold rating to a buy rating and set a $50.00 price objective for the company in a report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) set a $49.00 target price on shares of Oracle Corporation and gave the stock a buy rating in a research note on Monday, June 12th. Finally, Canaccord Genuity reiterated a buy rating and issued a $49.00 target price on shares of Oracle Corporation in a report on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $53.33.
Oracle Corporation (NYSE ORCL) opened at 48.80 on Thursday. The stock has a market capitalization of $203.64 billion, a PE ratio of 21.23 and a beta of 1.05. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $53.14. The company has a 50-day moving average price of $49.54 and a 200-day moving average price of $47.45.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Analysts expect that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s dividend payout ratio is currently 33.19%.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $50.30, for a total transaction of $188,625.00. Following the completion of the transaction, the director now owns 18,125 shares in the company, valued at approximately $911,687.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Chizen sold 206,250 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $49.75, for a total value of $10,260,937.50. Following the transaction, the director now owns 63,985 shares of the company’s stock, valued at $3,183,253.75. The disclosure for this sale can be found here. Insiders have sold 1,162,026 shares of company stock worth $58,034,049 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ORCL. Hudock Capital Group LLC raised its stake in shares of Oracle Corporation by 0.3% in the first quarter. Hudock Capital Group LLC now owns 3,997 shares of the enterprise software provider’s stock valued at $178,000 after acquiring an additional 10 shares during the last quarter. Keel Point LLC grew its position in Oracle Corporation by 0.3% during the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after acquiring an additional 14 shares during the last quarter. Alpha Windward LLC increased its holdings in Oracle Corporation by 0.3% during the 2nd quarter. Alpha Windward LLC now owns 5,568 shares of the enterprise software provider’s stock valued at $279,000 after purchasing an additional 19 shares in the last quarter. Joel Isaacson & Co. LLC raised its position in Oracle Corporation by 0.3% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after purchasing an additional 24 shares during the last quarter. Finally, Flagship Harbor Advisors LLC grew its holdings in shares of Oracle Corporation by 0.4% during the second quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock worth $404,000 after purchasing an additional 35 shares during the last quarter. 58.66% of the stock is owned by hedge funds and other institutional investors.
Oracle Corporation 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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