Orix Corp Ads (NYSE:IX) Hits New 1-Year High Following Strong Earnings

Key Points

• Orix Corp Ads shares hit a 52-week high of $25.24 following a bigger-than-expected earnings announcement with an EPS of $0.65, surpassing analysts' consensus of $0.54.
• The company reported revenues of $5.21 billion for the quarter, exceeding expectations of $4.96 billion, contributing to a return on equity of 8.53%.
• Analysts are optimistic, as Wall Street Zen upgraded Orix Corp Ads from a "hold" to a "buy" rating in light of its strong performance.

Orix Corp Ads (NYSE:IX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $25.23 and last traded at $25.24, with a volume of 12386 shares trading hands. The stock had previously closed at $24.92.

The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.54 by $0.11. Orix Corp Ads had a net margin of 12.70% and a return on equity of 9.01%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $4.96 billion.

Wall Street Analyst Weigh In

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.

Hedge Funds Weigh In On Orix Corp Ads

Several large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its position in Orix Corp Ads by 3,582.3% in the first quarter. Bessemer Group Inc. now owns 2,283 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 2,221 shares during the period. Yousif Capital Management LLC boosted its position in shares of Orix Corp Ads by 202.9% during the 1st quarter. Yousif Capital Management LLC now owns 11,300 shares of the real estate investment trust's stock valued at $236,000 after acquiring an additional 7,570 shares in the last quarter. GAMMA Investing LLC increased its stake in Orix Corp Ads by 343.2% in the first quarter. GAMMA Investing LLC now owns 5,708 shares of the real estate investment trust's stock valued at $119,000 after acquiring an additional 4,420 shares during the period. Two Sigma Investments LP acquired a new position in Orix Corp Ads in the fourth quarter worth about $273,000. Finally, Sequoia Financial Advisors LLC lifted its stake in Orix Corp Ads by 352.1% during the first quarter. Sequoia Financial Advisors LLC now owns 20,505 shares of the real estate investment trust's stock worth $428,000 after purchasing an additional 15,969 shares during the period. 1.73% of the stock is currently owned by institutional investors and hedge funds.

Orix Corp Ads Stock Up 1.3%

The company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.95 and a beta of 0.92. The business has a fifty day simple moving average of $22.34 and a two-hundred day simple moving average of $21.14. The company has a quick ratio of 1.72, a current ratio of 1.76 and a debt-to-equity ratio of 1.36.

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.