ORIX (NYSE:IX) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of ORIX (NYSE:IX) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “ORIX CORP-ADR is a diversified financial services institution with diverse operations in both corporate and retail finance, including: leasing, lending, rentals, life insurance, real estate financing and development, venture capital, investment and retail banking, commodities funds and securities brokerage. Their international operations include leasing, rentals, fixed income investment, aircraft and ship financing, commercial mortgage servicing and property development. “

Shares of NYSE:IX opened at $112.88 on Wednesday. ORIX has a 1-year low of $79.51 and a 1-year high of $112.91. The firm has a market capitalization of $27.60 billion, a PE ratio of 12.11, a PEG ratio of 0.46 and a beta of 0.87. The business’s 50 day moving average is $102.47 and its 200-day moving average is $96.45. The company has a current ratio of 1.69, a quick ratio of 1.67 and a debt-to-equity ratio of 1.36.

ORIX (NYSE:IX) last announced its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported $3.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.38. ORIX had a return on equity of 7.87% and a net margin of 9.97%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.43 billion. On average, sell-side analysts predict that ORIX will post 10.04 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its holdings in shares of ORIX by 5.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 641,490 shares of the real estate investment trust’s stock worth $54,309,000 after purchasing an additional 32,303 shares in the last quarter. FMR LLC lifted its position in shares of ORIX by 21.8% during the 2nd quarter. FMR LLC now owns 366,483 shares of the real estate investment trust’s stock worth $31,027,000 after buying an additional 65,600 shares during the period. Todd Asset Management LLC lifted its position in shares of ORIX by 1.0% during the 3rd quarter. Todd Asset Management LLC now owns 200,751 shares of the real estate investment trust’s stock worth $18,975,000 after buying an additional 2,080 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of ORIX by 4.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 142,041 shares of the real estate investment trust’s stock worth $13,426,000 after buying an additional 5,891 shares during the period. Finally, State Street Corp lifted its position in shares of ORIX by 6.6% during the 2nd quarter. State Street Corp now owns 96,975 shares of the real estate investment trust’s stock worth $8,210,000 after buying an additional 5,971 shares during the period. 1.58% of the stock is currently owned by institutional investors.

About ORIX

ORIX Corp. engages in the provision of leasing and corporate financial services. It operates through the following segments: Corporate Financial Services, Maintenance Leasing, Real Estate, Investment and Operation, Retail, and Overseas Business. The Corporate Financial Services segment offers leasing and loans to small and medium-sized enterprises.

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