Equities researchers at Wall Street Zen cut Orix Corp Ads (NYSE: IX) from "buy" to "hold" in a note to investors Sunday. This shift comes as company faces a turbulent market .
But Weiss Ratings stuck with a "buy (b)" rating for Orix in a May 8 report,showing some analysts still see upside. One analyst has a "buy" on it, keeping average rating at "buy".
Friday,Orix shares opened at $37.88. Stock's seen lows of $21.14 and highs of $40.00 over past year. With market cap of $42.05 billion,company's price-to-earnings ratio is 14.19,PEG ratio is 1.27. Beta at 0.88,suggesting less volatility than market.
Recent earnings on March 31 showed Orix posted EPS of $1.64 for quarter, revenues at $6.03 billion. Net margin came in at 13.55%,return on equity at 9.93%. Analysts expect EPS of 2.96 for current fiscal year.
Institutional investors have been changing stakes in Orix. Caprock Group LLC took new position valued at $659,000 in third quarter. Todd Asset Management LLC upped holdings by 6.1%,now owning 1,847,014 shares worth ~$48.24 million, adding 105,837 shares last quarter.
CTC Alternative Strategies Ltd. bought new stake worth ~$895,000, while AlphaCore Capital LLC boosted holdings by 6,402.7%, now with 77,707 shares worth $2.03 million, after acquiring extra 76,512 shares. And Teachers Retirement System of the State of Kentucky raised position by 8.3%, now holding 1,147,000 shares valued at $29.96 million, adding 88,100 shares during period.
Institutional investors and hedge funds own 1.73% of Orix. Company, a diversified financial services group,is based in Tokyo,Japan, working across sectors like leasing,lending, real estate, investment, and asset management. U.S. investors can access through American depositary shares on NYSE.
Orix's core activities include equipment leasing,installment financing for corporate clients,corporate lending, structured finance, real estate development and management. As market shifts,analysts will keep close watch on Orix's performance…
