Orix Corp Ads (NYSE:IX) Shares Gap Up After Earnings Beat

Orix Corp Ads (NYSE:IX)’s stock price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $25.46, but opened at $26.84. Orix Corp Ads shares last traded at $26.9890, with a volume of 28,364 shares changing hands.

The real estate investment trust reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.42. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.87 billion. Orix Corp Ads had a return on equity of 9.01% and a net margin of 12.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Orix Corp Ads in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Orix Corp Ads from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Orix Corp Ads

A number of institutional investors have recently bought and sold shares of the business. Todd Asset Management LLC lifted its position in shares of Orix Corp Ads by 399.1% during the 1st quarter. Todd Asset Management LLC now owns 1,727,984 shares of the real estate investment trust’s stock valued at $36,098,000 after buying an additional 1,381,764 shares in the last quarter. Northern Trust Corp raised its position in Orix Corp Ads by 400.1% during the first quarter. Northern Trust Corp now owns 1,070,093 shares of the real estate investment trust’s stock worth $22,354,000 after acquiring an additional 856,122 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Orix Corp Ads by 400.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,058,900 shares of the real estate investment trust’s stock worth $22,120,000 after acquiring an additional 847,120 shares during the period. American Century Companies Inc. lifted its holdings in Orix Corp Ads by 449.1% during the first quarter. American Century Companies Inc. now owns 467,365 shares of the real estate investment trust’s stock valued at $9,763,000 after purchasing an additional 382,251 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its position in shares of Orix Corp Ads by 392.5% in the first quarter. Eagle Global Advisors LLC now owns 397,500 shares of the real estate investment trust’s stock valued at $8,304,000 after purchasing an additional 316,796 shares during the period. 1.73% of the stock is owned by hedge funds and other institutional investors.

Orix Corp Ads Trading Up 0.8%

The firm has a market cap of $29.91 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.88. The company’s 50-day moving average price is $25.67 and its 200-day moving average price is $23.67. 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.