Orix Corp Ads (NYSE:IX) Announces Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Key Points

• Orix Corp Ads reported quarterly earnings of $0.65 per share, exceeding analysts' expectations by $0.11 EPS.
• The company's revenue for the quarter totaled $5.21 billion, outperforming expectations of $4.96 billion.
• Wall Street Zen upgraded Orix Corp Ads from a "hold" rating to a "strong-buy" rating, indicating increased confidence among analysts.

Orix Corp Ads (NYSE:IX - Get Free Report) posted its earnings results on Thursday. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.11, Zacks reports. The company had revenue of $5.21 billion during the quarter, compared to analysts' expectations of $4.96 billion. Orix Corp Ads had a net margin of 12.70% and a return on equity of 9.16%.

Orix Corp Ads Price Performance

NYSE:IX traded up $0.32 during trading hours on Friday, reaching $25.24. 109,843 shares of the company were exchanged, compared to its average volume of 211,538. The stock's 50-day moving average is $22.34 and its 200-day moving average is $21.14. The firm has a market cap of $28.76 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92. The company has a current ratio of 1.77, a quick ratio of 1.73 and a debt-to-equity ratio of 1.37. Orix Corp Ads has a twelve month low of $17.75 and a twelve month high of $25.33.

Institutional Investors Weigh In On Orix Corp Ads

Several hedge funds and other institutional investors have recently bought and sold shares of IX. Geneos Wealth Management Inc. boosted its stake in Orix Corp Ads by 4,325.5% during the first quarter. Geneos Wealth Management Inc. now owns 2,080 shares of the real estate investment trust's stock worth $43,000 after buying an additional 2,033 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Orix Corp Ads by 8,083.8% in the first quarter. Jones Financial Companies Lllp now owns 5,565 shares of the real estate investment trust's stock valued at $116,000 after purchasing an additional 5,497 shares during the period. Royal Bank of Canada boosted its stake in shares of Orix Corp Ads by 336.1% in the first quarter. Royal Bank of Canada now owns 38,081 shares of the real estate investment trust's stock valued at $796,000 after purchasing an additional 29,349 shares during the period. AQR Capital Management LLC boosted its stake in shares of Orix Corp Ads by 433.3% in the first quarter. AQR Capital Management LLC now owns 44,547 shares of the real estate investment trust's stock valued at $931,000 after purchasing an additional 36,194 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Orix Corp Ads by 568.7% in the first quarter. Goldman Sachs Group Inc. now owns 96,454 shares of the real estate investment trust's stock valued at $2,015,000 after purchasing an additional 82,030 shares during the period. 1.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Orix Corp Ads from a "hold" rating to a "strong-buy" rating in a research note on Saturday.

About Orix Corp Ads

ORIX Corporation provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East. The company's Corporate Financial Services and Maintenance Leasing segment is involved in the finance and fee; leasing and rental of automobiles, electronic measuring instruments, and ICT-related equipment businesses; and provision of life insurance and environment and energy-related products and services.

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