New Oriental Education & Technology Group (NYSE:EDU) Rating Increased to Buy at Citigroup

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) was upgraded by investment analysts at Citigroup from a "neutral" rating to a "buy" rating in a note issued to investors on Friday,Benzinga reports. The firm presently has a $50.00 price target on the stock, down from their prior price target of $77.00. Citigroup's price target indicates a potential downside of 8.14% from the stock's current price.

EDU has been the topic of several other research reports. Wall Street Zen raised shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. China Renaissance cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. raised New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $48.00 to $62.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group has an average rating of "Hold" and a consensus target price of $52.00.

New Oriental Education & Technology Group Trading Down 0.3%

EDU stock opened at $54.43 on Friday. The firm has a 50 day moving average of $47.90 and a 200-day moving average of $50.90. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 22.97 and a beta of 0.25. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.91% and a net margin of 8.17%. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EDU. GeoWealth Management LLC grew its holdings in New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after purchasing an additional 318 shares during the period. Westpac Banking Corp purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at about $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $51,000. Natixis lifted its stake in shares of New Oriental Education & Technology Group by 39.2% in the fourth quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after acquiring an additional 248 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of New Oriental Education & Technology Group in the first quarter worth about $54,000.

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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