Orix Corp Ads (NYSE:IX) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded Orix Corp Ads from “strong buy” to “hold,” following similar downgrades from Weiss Ratings and Wall Street Zen. MarketBeat data now shows a consensus “hold” rating.
• Orix shares opened at $39.15, down 2.7%, with a market capitalization of $43.47 billion. The stock remains near its 52-week high of $41.00.
• The company reported quarterly EPS of $1.64 on $6.03 billion in revenue, while analysts expect full-year EPS of $4.59. Hedge funds and other institutional investors own 1.73% of the stock, with several large investors recently increasing or initiating positions.

Orix Corp Ads (NYSE:IX - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on IX. Weiss Ratings downgraded Orix Corp Ads from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded shares of Orix Corp Ads from a "buy" rating to a "hold" rating in a research note on Sunday, June 7th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Orix Corp Ads Trading Down 2.7%

Shares of IX stock opened at $39.15 on Monday. The company has a market capitalization of $43.47 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.87 and a beta of 0.89. Orix Corp Ads has a 52-week low of $22.33 and a 52-week high of $41.00. The business's fifty day moving average is $39.22 and its 200 day moving average is $34.68. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.73 and a current ratio of 1.77.

Orix Corp Ads (NYSE:IX - Get Free Report) last posted its earnings results on Tuesday, March 31st. The real estate investment trust reported $1.64 EPS for the quarter. The business had revenue of $6.03 billion during the quarter. Orix Corp Ads had a return on equity of 9.93% and a net margin of 13.55%. On average, equities research analysts anticipate that Orix Corp Ads will post 4.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Orix Corp Ads

A number of large investors have recently modified their holdings of the company. Quantinno Capital Management LP boosted its stake in Orix Corp Ads by 88.2% in the second quarter. Quantinno Capital Management LP now owns 481,327 shares of the real estate investment trust's stock worth $10,839,000 after buying an additional 225,580 shares in the last quarter. Millennium Management LLC raised its stake in shares of Orix Corp Ads by 3,021.1% during the first quarter. Millennium Management LLC now owns 203,967 shares of the real estate investment trust's stock worth $4,261,000 after acquiring an additional 197,432 shares in the last quarter. Calamos Advisors LLC purchased a new position in shares of Orix Corp Ads during the first quarter worth approximately $4,899,000. Calamos Wealth Management LLC bought a new stake in shares of Orix Corp Ads in the 4th quarter worth approximately $4,103,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Orix Corp Ads in the 1st quarter worth approximately $3,287,000. 1.73% of the stock is owned by hedge funds and other institutional investors.

About Orix Corp Ads

ORIX Corporation ADS NYSE: IX is the American depositary share listing of ORIX Corporation, a diversified financial services group headquartered in Tokyo, Japan. The company operates across multiple business lines that include leasing and lending, real estate, investment and asset management, and a range of retail and corporate financial services. ORIX's ADS program allows U.S. investors to access ownership in the Tokyo-based group through shares traded on the New York Stock Exchange.

Core activities include equipment leasing and installment financing for corporate customers, corporate lending and structured finance, and real estate development and property management.

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