Discerene Group LP Makes New Investment in New Oriental Education & Technology Group, Inc. $EDU

Key Points

• Discerene Group LP has invested approximately $75.6 million in New Oriental Education & Technology Group, acquiring about 1.58 million shares, which represents 7.5% of its portfolio and makes it the firm's third-largest position.
• New Oriental Education reported $0.61 earnings per share (EPS) for the last quarter, exceeding estimates of $0.24, with revenues of $1.24 billion also surpassing forecasts.
• Analysts have mixed views on the stock, with recent ratings adjustments including a downgrade by Goldman Sachs to a neutral rating and a target price reduction from $58 to $50.

Discerene Group LP bought a new position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,580,514 shares of the company's stock, valued at approximately $75,564,000. New Oriental Education & Technology Group comprises approximately 7.5% of Discerene Group LP's portfolio, making the stock its 3rd largest position. Discerene Group LP owned about 0.93% of New Oriental Education & Technology Group at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Aspex Management HK Ltd raised its holdings in shares of New Oriental Education & Technology Group by 56.8% during the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock valued at $478,456,000 after buying an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of New Oriental Education & Technology Group by 61.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock valued at $249,952,000 after buying an additional 1,480,391 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at approximately $50,583,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of New Oriental Education & Technology Group by 3,276.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company's stock valued at $50,507,000 after buying an additional 1,025,130 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of New Oriental Education & Technology Group by 34,614,900.0% during the first quarter. National Bank of Canada FI now owns 692,300 shares of the company's stock valued at $33,099,000 after buying an additional 692,298 shares during the last quarter.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU opened at $48.49 on Monday. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 21.55 and a beta of 0.25. The stock's 50 day moving average price is $48.87 and its 200 day moving average price is $48.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.37. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. New Oriental Education & Technology Group had a net margin of 7.59% and a return on equity of 11.32%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. On average, sell-side analysts expect that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EDU. Hsbc Global Res raised New Oriental Education & Technology Group to a "hold" rating in a report on Wednesday, July 30th. The Goldman Sachs Group cut New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $58.00 to $50.00 in a report on Wednesday, August 6th. Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. raised New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. Finally, Citigroup raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $77.00 to $50.00 in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $51.60.

About New Oriental Education & Technology Group

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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