Drexel Hamilton reiterated their buy rating on shares of Oracle Corporation (NYSE:ORCL) in a research note issued to investors on Thursday. Drexel Hamilton currently has a $62.00 price target 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.”,” Drexel Hamilton’s analyst commented.
A number of other research firms have also recently commented on ORCL. Rosenblatt Securities reaffirmed a buy rating and set a $58.00 target price on shares of Oracle Corporation in a research note on Monday, September 11th. Royal Bank Of Canada increased their price objective on Oracle Corporation from $53.00 to $56.00 and gave the stock an outperform rating in a research note on Tuesday, September 12th. Vetr cut Oracle Corporation from a sell rating to a strong sell rating and set a $46.58 price objective on the stock. in a research note on Tuesday, September 12th. BidaskClub raised Oracle Corporation from a hold rating to a buy rating in a research note on Tuesday, September 12th. Finally, Stifel Nicolaus reissued a buy rating and issued a $52.00 price objective on shares of Oracle Corporation in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $52.44.
Oracle Corporation (ORCL) opened at 48.74 on Thursday. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $53.14. The stock has a market cap of $201.62 billion, a PE ratio of 22.05 and a beta of 1.05. The stock has a 50 day moving average price of $49.96 and a 200-day moving average price of $46.98.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a return on equity of 21.05% and a net margin of 25.34%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts expect that Oracle Corporation will post $2.94 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s payout ratio is 33.19%.
In other Oracle Corporation news, insider Thomas Kurian sold 750,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Boskin sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $50.69, for a total transaction of $7,603,500.00. Following the completion of the transaction, the director now directly owns 99,454 shares in the company, valued at $5,041,323.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,817,500 shares of company stock worth $91,582,600. 29.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Oracle Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after purchasing an additional 5,270,359 shares in the last quarter. BlackRock Inc. lifted its stake in Oracle Corporation by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after purchasing an additional 4,678,977 shares in the last quarter. State Street Corp lifted its stake in Oracle Corporation by 1.0% in the 1st quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock worth $5,495,769,000 after purchasing an additional 1,187,802 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Oracle Corporation by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock worth $2,397,824,000 after purchasing an additional 1,521,879 shares in the last quarter. Finally, Harris Associates L P lifted its stake in Oracle Corporation by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after purchasing an additional 7,427,501 shares in the last quarter. 58.67% of the stock is currently owned by institutional investors and hedge funds.
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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