Wedbush reaffirmed their neutral rating on shares of Oracle (NYSE:ORCL) in a research report released on Tuesday, September 18th. The firm currently has a $49.00 target price on the enterprise software provider’s stock. Wedbush also issued estimates for Oracle’s Q3 2019 earnings at $0.78 EPS, Q4 2019 earnings at $0.95 EPS, FY2019 earnings at $3.05 EPS, Q1 2020 earnings at $0.70 EPS, Q2 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.84 EPS and Q4 2020 earnings at $1.08 EPS.
A number of other research analysts have also issued reports on the company. Barclays boosted their price target on Oracle from $58.00 to $60.00 and gave the stock an overweight rating in a research report on Friday, September 7th. JPMorgan Chase & Co. lowered Oracle from an overweight rating to a neutral rating and reduced their price target for the stock from $55.00 to $53.00 in a research report on Thursday, June 14th. Zacks Investment Research lowered Oracle from a hold rating to a sell rating in a research report on Tuesday, August 21st. Goldman Sachs Group reiterated a buy rating and set a $55.00 price target on shares of Oracle in a research report on Tuesday, September 18th. Finally, Societe Generale set a $50.00 price target on Oracle and gave the stock a neutral rating in a research report on Tuesday, August 14th. Sixteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $53.92.
ORCL traded up $0.60 during trading on Tuesday, reaching $47.38. 23,123,169 shares of the company were exchanged, compared to its average volume of 17,422,672. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43. Oracle has a 52 week low of $42.57 and a 52 week high of $53.48. The company has a market cap of $213.44 billion, a P/E ratio of 16.80, a PEG ratio of 1.72 and a beta of 1.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that Oracle will post 3.07 earnings per share for the current year.
Oracle announced that its Board of Directors has approved a stock repurchase plan on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, October 15th. Oracle’s dividend payout ratio is 26.95%.
In related news, Director Naomi O. Seligman sold 45,000 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $48.09, for a total transaction of $2,164,050.00. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,345,029.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total value of $179,137.50. Following the transaction, the director now directly owns 27,969 shares in the company, valued at $1,336,079.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,196 shares of company stock valued at $9,235,790. 32.00% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Rainier Group Investment Advisory LLC acquired a new position in Oracle in the 1st quarter worth about $106,000. ELM Advisors LLC acquired a new position in Oracle in the 3rd quarter worth about $122,000. Kiley Juergens Wealth Management LLC increased its position in Oracle by 70.9% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock worth $141,000 after purchasing an additional 1,140 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in Oracle in the 1st quarter worth about $130,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Oracle in the 2nd quarter worth about $126,000. 53.43% of the stock is currently owned by hedge funds and other institutional investors.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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