Stock Update (NYSE:ORCL): Tech giant Oracle to buy Opower in $532M deal

[at American City Business Journals] – Computer tech giant Oracle Corp. is buying Arlington-based energy software company Opower Inc. for $532 million, the companies announced Monday morning. Opower CEO and co-founder Dan Yates said the purchase will allow the companies to offer a complete series of cloud applications for utilities from the grid to end customers. Rodger Smith, the senior vice president of Oracle’s Utilities Global Business unit, said the purchase will make the company the largest provider of mission-critical cloud services to utilities. Read more on this. Oracle Corporation (ORCL) , with a current value of $166.66B, began trading this morning at $39.90. Looking at the stock, its one day range is $39.83 to $40.16 and has traded between $33.13 and $45.24 over the past 12 months. Oracle (ORCL) shares are currently priced at 15.21x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.35x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $0.60 per share annually in dividends, yielding 1.51%. According to a consensus of 32 analysts, the earnings estimate of $0.82 per share would be $0.04 better than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.62, which would be a $0.15 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $10.46 Billion. If realized, that would be a 2.33% decrease over the year-ago quarter. In terms of ratings, Northland Capital Initiated ORCL at Outperform (Apr 20, 2016). Previously, Macquarie Initiated ORCL at to Outperform. The average price target for ORCL shares by the analysts covering the stock is $43.94, which is 10.13% above where the stock opened this morning. See more in (NYSE:ORCL) Similar Articles: Stock Update: Oracle Corporation (NYSE:ORCL) – Oracle Stock to Trade Ex-Dividend (ORCL) Company Update: Oracle Corporation (NYSE:ORCL) – Here’s Why Oracle (ORCL) Stock is Down Today Company Update: Oracle Corporation (NYSE:ORCL) – Oracle (ORCL) Stock Jumps, Analysts Bullish Long Term