StockNews.com Downgrades ORIX (NYSE:IX) to Hold

Posted by on Sep 23rd, 2023

ORIX (NYSE:IX – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

ORIX Stock Up 0.6 %

ORIX stock opened at $97.49 on Thursday. The stock has a market cap of $23.04 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.49 and a beta of 0.88. The company has a quick ratio of 1.76, a current ratio of 1.79 and a debt-to-equity ratio of 1.42. ORIX has a twelve month low of $68.78 and a twelve month high of $101.56. The company’s 50-day moving average price is $93.54 and its two-hundred day moving average price is $88.92.

ORIX (NYSE:IX – Get Free Report) last released its quarterly earnings results on Friday, August 4th. The real estate investment trust reported $1.96 earnings per share for the quarter. ORIX had a net margin of 10.18% and a return on equity of 7.88%. The firm had revenue of $4.93 billion for the quarter. As a group, analysts expect that ORIX will post 10.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in ORIX by 2.2% in the fourth quarter. Morgan Stanley now owns 991,545 shares of the real estate investment trust’s stock valued at $79,839,000 after acquiring an additional 21,745 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in ORIX by 262.6% in the first quarter. Envestnet Asset Management Inc. now owns 307,037 shares of the real estate investment trust’s stock valued at $4,852,000 after buying an additional 222,350 shares in the last quarter. Todd Asset Management LLC boosted its position in ORIX by 19.0% in the second quarter. Todd Asset Management LLC now owns 288,836 shares of the real estate investment trust’s stock valued at $26,345,000 after buying an additional 46,191 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in ORIX by 18.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 149,340 shares of the real estate investment trust’s stock valued at $13,621,000 after buying an additional 23,000 shares in the last quarter. Finally, Northern Trust Corp boosted its position in ORIX by 4.9% in the second quarter. Northern Trust Corp now owns 129,652 shares of the real estate investment trust’s stock valued at $11,826,000 after buying an additional 6,007 shares in the last quarter. 1.73% of the stock is owned by institutional investors.

About ORIX

(Get Free Report)

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.

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