Orix Corp Ads (NYSE:IX) Sets New 12-Month High After Strong Earnings

Key Points

• Orix Corp Ads hit a new 52-week high after reporting stronger-than-expected quarterly results, with the stock trading as high as $38.56 versus a prior close of $33.73.
• The company posted EPS of $1.55, far above the $0.35 consensus estimate, while revenue came in at $5.85 billion, also well ahead of expectations.
• Analyst sentiment remains constructive overall, with the stock carrying a consensus Buy rating despite a recent downgrade from Wall Street Zen to Hold.

Orix Corp Ads (NYSE:IX - Get Free Report) shares hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $38.56 and last traded at $36.9060, with a volume of 44742 shares traded. The stock had previously closed at $33.73.

The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $1.20. Orix Corp Ads had a return on equity of 10.69% and a net margin of 15.04%.The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $2.63 billion.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IX. Weiss Ratings reiterated a "buy (b)" rating on shares of Orix Corp Ads in a research report on Friday. Wall Street Zen downgraded Orix Corp Ads from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

Hedge Funds Weigh In On Orix Corp Ads

Several large investors have recently added to or reduced their stakes in IX. Quantinno Capital Management LP lifted its position in Orix Corp Ads by 88.2% during 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 during the period. Millennium Management LLC increased its stake in 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 during the last quarter. Calamos Advisors LLC acquired a new stake in Orix Corp Ads during the first quarter worth about $4,899,000. Calamos Wealth Management LLC acquired a new stake in Orix Corp Ads during the fourth quarter worth about $4,103,000. Finally, Todd Asset Management LLC increased its stake in Orix Corp Ads by 6.1% during the third quarter. Todd Asset Management LLC now owns 1,847,014 shares of the real estate investment trust's stock worth $48,244,000 after acquiring an additional 105,837 shares during the last quarter. 1.73% of the stock is currently owned by hedge funds and other institutional investors.

Orix Corp Ads Price Performance

The company has a market capitalization of $40.74 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 1.82 and a debt-to-equity ratio of 1.29. The company has a 50 day simple moving average of $31.39 and a 200 day simple moving average of $29.87.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.