Bank of America Corp DE lowered its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,480,088 shares of the company's stock after selling 411,248 shares during the period. Bank of America Corp DE owned about 1.46% of New Oriental Education & Technology Group worth $159,172,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of EDU. GeoWealth Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after buying an additional 318 shares during the last quarter. Westpac Banking Corp purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $51,000. Natixis lifted its stake in shares of New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after purchasing an additional 248 shares during the period. Finally, BNP Paribas bought a new position in New Oriental Education & Technology Group during the 4th quarter valued at approximately $113,000.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on EDU. JPMorgan Chase & Co. reduced their price objective on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Morgan Stanley lowered New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. StockNews.com raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. Macquarie lowered New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and reduced their target price for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. Finally, Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.80.
Read Our Latest Analysis on EDU
New Oriental Education & Technology Group Price Performance
Shares of EDU traded down $1.19 during trading hours on Thursday, hitting $48.96. The stock had a trading volume of 196,842 shares, compared to its average volume of 1,792,671. The firm has a market capitalization of $8.31 billion, a PE ratio of 20.83 and a beta of 0.25. The stock has a fifty day moving average price of $47.03 and a 200 day moving average price of $53.47. New Oriental Education & Technology Group Inc. has a 12 month low of $40.66 and a 12 month high of $88.53.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.06). The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. New Oriental Education & Technology Group's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current fiscal year.
New Oriental Education & Technology Group Profile
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Free Report)
New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.
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