Oracle Co. (NYSE:ORCL) announced a quarterly dividend on Monday, December 17th, Zacks reports. Shareholders of record on Wednesday, January 16th will be given a dividend of 0.19 per share by the enterprise software provider on Wednesday, January 30th. This represents a $0.76 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, January 15th.
Oracle has raised its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Oracle has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oracle to earn $3.32 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 22.9%.
NYSE:ORCL opened at $48.29 on Monday. Oracle has a one year low of $42.40 and a one year high of $53.48. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a market capitalization of $197.79 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.04.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, December 17th. The enterprise software provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.70 by $0.10. Oracle had a net margin of 10.01% and a return on equity of 29.93%. The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.52 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Sell-side analysts anticipate that Oracle will post 3.07 earnings per share for the current year.
A number of research analysts have weighed in on ORCL shares. Royal Bank of Canada upped their price objective on shares of Oracle to $55.00 in a research report on Tuesday, December 18th. Nomura set a $58.00 price objective on shares of Oracle and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Credit Suisse Group reiterated a “buy” rating and issued a $60.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. Goldman Sachs Group reiterated a “buy” rating and issued a $55.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $57.00 price objective on shares of Oracle in a research report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.48.
In related news, EVP Dorian Daley sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $45.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the executive vice president now owns 102,919 shares in the company, valued at approximately $4,631,355. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $46.42, for a total transaction of $174,075.00. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,298,320.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,802 shares of company stock valued at $1,759,111. Insiders own 32.00% of the company’s stock.
Oracle declared that its Board of Directors has authorized a share repurchase program on Monday, September 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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