New Oriental Education & Technology Group, Inc. $EDU Shares Purchased by Barclays PLC

Key Points

• Barclays PLC increased its stake in New Oriental by 104.1% in Q3, buying an additional 220,129 shares to hold 431,564 shares (about 0.25% of the company) worth roughly $22.9 million.
• New Oriental beat estimates for the most recent quarter with EPS of $0.45 versus $0.34 expected and revenue of $1.19 billion (up 14.7% year-over-year), signaling solid top- and bottom-line growth.
• Multiple analysts have upgraded the stock to Buy/Strong-Buy, leaving a MarketBeat consensus rating of Buy with a consensus target price of $65.84.

Barclays PLC lifted its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 104.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 431,564 shares of the company's stock after purchasing an additional 220,129 shares during the period. Barclays PLC owned approximately 0.25% of New Oriental Education & Technology Group worth $22,903,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EDU. Fox Run Management L.L.C. purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $538,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at $621,000. KBC Group NV boosted its position in shares of New Oriental Education & Technology Group by 11.3% in the second quarter. KBC Group NV now owns 4,474 shares of the company's stock worth $241,000 after buying an additional 454 shares during the period. SG Americas Securities LLC grew its holdings in shares of New Oriental Education & Technology Group by 94.0% during the second quarter. SG Americas Securities LLC now owns 35,433 shares of the company's stock valued at $1,912,000 after buying an additional 17,168 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of New Oriental Education & Technology Group by 6.6% during the second quarter. TD Waterhouse Canada Inc. now owns 8,890 shares of the company's stock valued at $476,000 after buying an additional 554 shares in the last quarter.

New Oriental Education & Technology Group Trading Up 1.1%

Shares of New Oriental Education & Technology Group stock opened at $53.72 on Thursday. New Oriental Education & Technology Group, Inc. has a 1 year low of $40.66 and a 1 year high of $64.97. The company's fifty day simple moving average is $57.62 and its 200-day simple moving average is $55.03. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 0.91 and a beta of 0.28.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The company's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, research analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. China Renaissance raised New Oriental Education & Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 29th. Weiss Ratings reiterated a "hold (c+)" rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Zacks Research raised shares of New Oriental Education & Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 2nd. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Finally, HSBC raised shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $65.84.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group NYSE: EDU is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.