Orix Corp Ads (NYSE:IX) Sets New 12-Month High - Here's What Happened

Key Points

• Orix Corp Ads' stock reached a new 52-week high of $26.15 during trading, indicating a positive trend for the company's share price.
• Wall Street analysts upgraded Orix Corp Ads from a "hold" to a "strong-buy" rating, suggesting increased confidence in the company's performance.
• In its latest earnings report, Orix Corp announced $0.65 EPS, exceeding estimates and reflecting strong revenue of $5.21 billion for the quarter.

Shares of Orix Corp Ads (NYSE:IX - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $26.15 and last traded at $26.02, with a volume of 180015 shares traded. The stock had previously closed at $26.03.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Orix Corp Ads from a "strong-buy" rating to a "buy" rating in a research report on Friday.

Orix Corp Ads Price Performance

The company has a quick ratio of 1.72, a current ratio of 1.76 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $29.60 billion, a P/E ratio of 11.88, a PEG ratio of 0.98 and a beta of 0.92. The business has a 50 day simple moving average of $23.18 and a 200-day simple moving average of $21.45.

Orix Corp Ads (NYSE:IX - Get Free Report) last posted its earnings results on Thursday, August 7th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.11. The company had revenue of $5.21 billion for the quarter, compared to analysts' expectations of $4.96 billion. Orix Corp Ads had a return on equity of 9.01% and a net margin of 12.70%. Analysts predict that Orix Corp Ads will post 11.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Orix Corp Ads

A number of hedge funds and other institutional investors have recently modified their holdings of IX. Raymond James Financial Inc. boosted its position in Orix Corp Ads by 2.7% during the second quarter. Raymond James Financial Inc. now owns 17,157 shares of the real estate investment trust's stock worth $386,000 after purchasing an additional 457 shares during the period. BNP Paribas Financial Markets boosted its position in Orix Corp Ads by 18.5% during the fourth quarter. BNP Paribas Financial Markets now owns 3,437 shares of the real estate investment trust's stock worth $365,000 after purchasing an additional 537 shares during the period. Parr Mcknight Wealth Management Group LLC boosted its position in shares of Orix Corp Ads by 1.0% in the second quarter. Parr Mcknight Wealth Management Group LLC now owns 67,964 shares of the real estate investment trust's stock valued at $1,531,000 after acquiring an additional 677 shares during the period. Gilman Hill Asset Management LLC boosted its position in shares of Orix Corp Ads by 0.4% in the second quarter. Gilman Hill Asset Management LLC now owns 196,669 shares of the real estate investment trust's stock valued at $4,429,000 after acquiring an additional 705 shares during the period. Finally, Naples Global Advisors LLC boosted its position in shares of Orix Corp Ads by 0.8% in the second quarter. Naples Global Advisors LLC now owns 92,365 shares of the real estate investment trust's stock valued at $2,080,000 after acquiring an additional 764 shares during the period. 1.73% of the stock is currently owned by institutional investors.

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.