Orix Corp Ads (NYSE:IX) Issues Earnings Results

Orix Corp Ads (NYSE:IX) issued its quarterly earnings data on Thursday. The real estate investment trust reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.41, Zacks reports. Orix Corp Ads had a return on equity of 13.08% and a net margin of 18.02%.The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.37 billion.

Here are the key takeaways from Orix Corp Ads’ conference call:

• Record first-quarter net income reached JPY 280.8 billion, up JPY 173.5 billion year over year and representing 53% of the unchanged JPY 530 billion full-year forecast.
• Core earnings improved across asset management, transportation and insurance, while capital recycling generated approximately JPY 300 billion of cash inflows. ORIX also completed the ORIX Bank transfer and agreed to acquire aircraft-parts company AerFin to expand its aviation value chain.
• Results remain highly exposed to Kioxia’s share price; JPY 540 billion of the JPY 840 billion first-half forecast is non-cash Kioxia-related gains. Management noted that the share-price decline since June could result in Kioxia-related valuation losses in the third quarter.
• ORIX changed its dividend policy to base shareholder distributions on adjusted profit excluding Kioxia-related gains and losses, while maintaining the higher-of-39%-payout-ratio or prior-year dividend framework. The interim dividend is forecast at JPY 107.27 per share, and JPY 78.4 billion of the planned JPY 250 billion buyback had been completed by the end of July.

Orix Corp Ads Price Performance

NYSE:IX traded down $1.20 during mid-day trading on Friday, hitting $40.09. 204,047 shares of the stock traded hands, compared to its average volume of 198,606. The business’s 50-day moving average price is $39.44 and its 200 day moving average price is $35.20. The company has a quick ratio of 1.73, a current ratio of 1.77 and a debt-to-equity ratio of 1.30. The company has a market cap of $44.51 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.89 and a beta of 0.88. Orix Corp Ads has a 12-month low of $24.19 and a 12-month high of $42.39.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IX shares. Zacks Research cut Orix Corp Ads from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Wall Street Zen downgraded shares of Orix Corp Ads from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, Weiss Ratings upgraded Orix Corp Ads from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Orix Corp Ads currently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IX. Atlas Capital Advisors Inc. purchased a new stake in shares of Orix Corp Ads in the fourth quarter worth $28,000. Kestra Advisory Services LLC bought a new position in Orix Corp Ads in the 4th quarter worth about $35,000. Geneos Wealth Management Inc. increased its stake in Orix Corp Ads by 4,325.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,080 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 2,033 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Orix Corp Ads by 8,083.8% in the 1st quarter. Jones Financial Companies Lllp now owns 5,565 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 5,497 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Orix Corp Ads by 217.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,497 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 3,080 shares during the last quarter. 1.73% of the stock is currently owned by hedge funds and other institutional investors.

Orix Corp Ads Company Profile

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.