Oracle Corp.’s (ORCL) Buy Rating Reiterated at Bank of America Corp.
Oracle Corp. (NYSE:ORCL)‘s stock had its “buy” rating restated by equities researchers at Bank of America Corp. in a note issued to investors on Thursday. They currently have a $48.00 price objective on the enterprise software provider’s stock. Bank of America Corp.’s price target points to a potential upside of 21.49% from the company’s current price.
Several other research firms have also issued reports on ORCL. Cowen and Company set a $46.00 price target on Oracle Corp. and gave the stock a “buy” rating in a research report on Friday, September 16th. BTIG Research restated a “buy” rating and issued a $44.00 price target on shares of Oracle Corp. in a research report on Friday, June 17th. Vetr lowered Oracle Corp. from a “strong-buy” rating to a “buy” rating and set a $45.58 price target on the stock. in a research report on Wednesday, September 7th. DA Davidson initiated coverage on Oracle Corp. in a research report on Monday, August 8th. They issued a “buy” rating on the stock. Finally, Morgan Stanley restated a “hold” rating and issued a $41.00 price target on shares of Oracle Corp. in a research report on Friday, September 16th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.88.
Shares of Oracle Corp. (NYSE:ORCL) traded up 0.443% on Thursday, reaching $39.685. The company’s stock had a trading volume of 5,079,142 shares. The company’s 50 day moving average is $40.83 and its 200-day moving average is $40.35. Oracle Corp. has a 1-year low of $33.13 and a 1-year high of $42.00. The stock has a market cap of $163.46 billion, a PE ratio of 18.853 and a beta of 1.08.
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Oracle Corp. (NYSE:ORCL) last released its earnings results 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. The firm earned $8.60 billion during the quarter. Oracle Corp. had a net margin of 24.16% and a return on equity of 22.10%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. On average, equities analysts predict that Oracle Corp. will post $2.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, October 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.52%. Oracle Corp.’s payout ratio is currently 28.57%.
In other news, EVP John F. Fowler sold 500,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $41.17, for a total transaction of $20,585,000.00. Following the transaction, the executive vice president now owns 119,645 shares of the company’s stock, valued at approximately $4,925,784.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $41.78, for a total transaction of $156,675.00. Following the transaction, the director now directly owns 8,281 shares in the company, valued at approximately $345,980.18. The disclosure for this sale can be found here. Company insiders own 28.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Williams Jones & Associates LLC boosted its position in Oracle Corp. by 3,148.2% in the second quarter. Williams Jones & Associates LLC now owns 162,701 shares of the enterprise software provider’s stock worth $6,659,000 after buying an additional 157,692 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Oracle Corp. during the second quarter worth about $5,144,000. Kentucky Retirement Systems bought a new position in Oracle Corp. during the second quarter worth about $10,833,000. Mason Street Advisors LLC bought a new position in Oracle Corp. during the second quarter worth about $17,159,000. Finally, Harbour Capital Advisors LLC bought a new position in Oracle Corp. during the second quarter worth about $1,002,000. 58.00% of the stock is currently owned by institutional investors.
Oracle Corp. 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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