Market Update: Oracle Corporation (NYSE:ORCL) – New Oracle PartnerNetwork Program Drives Partner Success in the Cloud

[Marketwired] – Today, Oracle unveiled a new Oracle PartnerNetwork Cloud Program to help partners accelerate the growth of their Oracle Cloud business by providing them with technical and go-to-market support. Through … Read more on this. Oracle Corporation (ORCL) , with a current market cap of $149.23B, began trading this morning at $35.85. Looking at today’s trading action, the company’s one day range from $35.34 to $35.94 with a trailing 52-week range being $33.13 to $45.24. Priced at 13.97x this year’s forecasted earnings, ORCL shares are relatively expensive compared to the industry ’s 9.46x forward p/e ratio. The company pays shareholders $0.60 per share in dividend income per year, for a current yield of 1.65%. In a review of the consensus earnings estimate this quarter, 33 sell-side analysts are looking at $0.62 per share, which would be $0.06 worse than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $2.60 is a $0.17 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $9.13 Billion. If reported, that would be a 2.14% decrease over the year-ago quarter. In terms of ratings, BMO Capital Markets Initiated ORCL at Market Perform (Jan 8, 2016). Previously, Morgan Stanley downgraded ORCL from Overweight to Equal-Weight. Investors should keep in mind is that the average price target is $44.00, which is 22.73% above where the stock opened this morning. See more in (NYSE:ORCL) Similar Articles: Market Update: Oracle Corporation (NYSE:ORCL) – Clear Skies For Oracle Despite Cloud Revenue Struggles Stock Update: Oracle Corporation (NYSE:ORCL) – Oracle Awards Banking Software Company Temenos ‘Exastack Partner Of The Year’ Market Update (NYSE:ORCL): Oracle Helps Organizations Power Customer Experiences With Latest Releases of Oracle Service Cloud and Oracle Social Cloud