Oracle Upgraded to “Overweight” by Atlantic Securities (ORCL)
Oracle (NASDAQ:ORCL) opened at 40.77 on Wednesday. Oracle has a one year low of $30.04 and a one year high of $43.19. The stock’s 50-day moving average is $41.75 and its 200-day moving average is $39.38. The company has a market cap of $181.6 billion and a P/E ratio of 17.03.
Oracle (NASDAQ:ORCL) last issued its quarterly earnings data on Thursday, June 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.03. The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $11.48 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Oracle will post $3.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 30th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, July 7th.
A number of other firms have also recently commented on ORCL. Analysts at Susquehanna raised their price target on shares of Oracle from $45.00 to $47.00 in a research note on Friday, June 20th. They now have a “positive” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of Oracle in a research note on Friday, June 20th. Finally, analysts at Citigroup Inc. downgraded shares of Oracle from a “buy” rating to a “neutral” rating in a research note on Friday, June 20th. They now have a $41.00 price target on the stock, down previously from $44.00. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $42.50.
In other Oracle news, SVP Dorian Daley sold 72,500 shares of Oracle stock on the open market in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $40.14, for a total value of $2,910,150.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Oracle Corporation is a provider of enterprise software and computer hardware products and services. The Company provides cloud services as well as software and hardware products to other cloud service providers, both public and private.
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