Oracle Corporation (ORCL) Receives Average Recommendation of “Buy” from Brokerages
Oracle Corporation (NYSE:ORCL) has been assigned an average recommendation of “Buy” from the forty-five ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirty-one have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $50.92.
A number of brokerages recently weighed in on ORCL. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price target on shares of Oracle Corporation in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price target on shares of Oracle Corporation in a research report on Tuesday, July 25th. KeyCorp reissued a “buy” rating and issued a $61.00 price target on shares of Oracle Corporation in a research report on Tuesday, July 18th. Bank of America Corporation reduced their price target on shares of Oracle Corporation from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, June 30th. Finally, Mitsubishi UFJ Financial Group set a $63.00 price target on shares of Oracle Corporation and gave the company a “buy” rating in a research report on Monday, June 26th.
Oracle Corporation (NYSE ORCL) traded down 0.071% during trading on Tuesday, hitting $49.605. The company had a trading volume of 4,142,414 shares. The firm’s 50 day moving average is $49.35 and its 200-day moving average is $44.95. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $51.85. The stock has a market capitalization of $205.20 billion, a price-to-earnings ratio of 22.446 and a beta of 1.06.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm had revenue of $10.94 billion during the quarter, compared to analysts’ expectations of $10.45 billion. During the same period in the previous year, the company earned $0.81 earnings per share. Oracle Corporation’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Oracle Corporation will post $2.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Monday, July 17th. Oracle Corporation’s dividend payout ratio is currently 34.55%.
In other news, insider Thomas Kurian sold 750,000 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares of the company’s stock, valued at $39,537,075.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP W Corey West sold 150,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the completion of the sale, the executive vice president now directly owns 177,988 shares of the company’s stock, valued at approximately $9,146,803.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,817,500 shares of company stock worth $91,547,388. 29.00% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in ORCL. WFG Advisors LP raised its stake in Oracle Corporation by 44.5% in the fourth quarter. WFG Advisors LP now owns 4,665 shares of the enterprise software provider’s stock valued at $162,000 after buying an additional 1,437 shares during the last quarter. Norges Bank acquired a new stake in Oracle Corporation during the fourth quarter valued at about $1,090,559,000. Israel Discount Bank of New York GFN acquired a new stake in Oracle Corporation during the fourth quarter valued at about $541,000. Lincoln Capital Corp acquired a new stake in Oracle Corporation during the fourth quarter valued at about $1,811,000. Finally, Wealthfront Inc. raised its stake in Oracle Corporation by 2.4% in the fourth quarter. Wealthfront Inc. now owns 73,376 shares of the enterprise software provider’s stock valued at $2,821,000 after buying an additional 1,697 shares during the last quarter. 58.77% of the stock is owned by institutional investors.
About Oracle Corporation
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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