Yes! With Handouts you can rotate assignments at 90 degree intervals. You can also choose to rotate individual pages of an assignment, so not all the pages have to face the same way :-)
i) when you add a new photo or one from your Library as a new page to an assignment, you get the option to 'Rotate' the image in the bottom left corner of the screen before you tap on 'Done' - this allows you to flip the image at 90 degree intervals.
ii) when you upload a file from your Dropbox, Google or iCloud Drive as a new page to a handout, once the import is complete long tap on the page(s) you want to rotate and tap on 'Edit'. The option to 'Rotate' will now appear in the bottom left corner of the screen - this allows you to flip the image at 90 degree intervals.
Don't forget! you can go back and change the rotation of existing pages any time by long tapping on the page(s) you want to rotate. Tapping on 'Edit' will bring up the option to 'Rotate' the page in the bottom left of the screen.