Orix Corp Ads (NYSE:IX) Hits New 52-Week High - Here's What Happened

Key Points

• Orix Corp Ads has reached a new 52-week high of $26.73, with the last traded price at $26.64 and a trading volume of 66,882 shares.
• Wall Street Zen downgraded Orix Corp Ads from a "strong-buy" to a "buy" rating as of August 22nd.
• In its recent quarterly earnings report, Orix Corp Ads exceeded analysts' expectations with an EPS of $0.65 and revenue of $5.21 billion, compared to estimates of $0.54 EPS and $4.96 billion revenue.

Shares of Orix Corp Ads (NYSE:IX - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $26.73 and last traded at $26.64, with a volume of 66882 shares trading hands. The stock had previously closed at $26.44.

Analyst Ratings Changes

Separately, Wall Street Zen cut Orix Corp Ads from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd.

Orix Corp Ads Trading Up 0.9%

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.72 and a current ratio of 1.76. The company has a 50 day simple moving average of $24.56 and a two-hundred day simple moving average of $22.10. The company has a market cap of $30.88 billion, a PE ratio of 12.39, a PEG ratio of 1.01 and a beta of 0.89.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Orion Porfolio Solutions LLC raised its stake in shares of Orix Corp Ads by 31.9% in the second quarter. Orion Porfolio Solutions LLC now owns 56,265 shares of the real estate investment trust's stock valued at $1,267,000 after purchasing an additional 13,602 shares in the last quarter. Parr Mcknight Wealth Management Group LLC raised its stake 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 purchasing an additional 677 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Orix Corp Ads in the second quarter valued at $246,000. Corient Private Wealth LLC raised its stake in shares of Orix Corp Ads by 50.9% in the second quarter. Corient Private Wealth LLC now owns 31,566 shares of the real estate investment trust's stock valued at $711,000 after purchasing an additional 10,642 shares in the last quarter. Finally, Curi Capital LLC raised its stake in shares of Orix Corp Ads by 17.0% in the second quarter. Curi Capital LLC now owns 61,772 shares of the real estate investment trust's stock valued at $1,391,000 after purchasing an additional 8,969 shares in the last quarter. 1.73% of the stock is currently owned by institutional investors and hedge funds.

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.