2024-02-08 18:01:54 ET
Summary
- ORIX Corporation's recent third-quarter earnings came in -2% lower than what the sell-side expected, but this was still equivalent to an impressive bottom-line growth rate of +40% QoQ.
- The company stuck to its existing EPS guidance and ROE target for FY 2024 and FY 2025, despite the bottom line miss.
- IX is worthy of a Buy rating, as it can trade at a much higher P/B multiple based on my valuation analysis.
Elevator Pitch
I continue to assign a Buy rating to ORIX Corporation ( IX ) [8591:JP]. My November 20, 2023, update touched on IX's asset divestments, and the outlook for ORIX Corporation's international renewable energy business and Banking & Credit business....
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For further details see:
ORIX: Look Beyond Earnings Miss And Focus On ROE Target