Citigroup upgraded shares of New Oriental Education & Technology Group (NYSE:EDU - Free Report) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat.com reports. Citigroup currently has $50.00 target price on the stock, down from their prior target price of $77.00.
Several other equities research analysts have also issued reports on the stock. 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 shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and increased their price target for the company from $48.00 to $62.00 in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $52.00.
Get Our Latest Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Stock Performance
Shares of NYSE EDU traded down $0.19 during trading hours on Friday, hitting $53.95. 658,119 shares of the stock were exchanged, compared to its average volume of 1,545,396. The company's fifty day simple moving average is $48.08 and its two-hundred day simple moving average is $50.67. The company has a market cap of $9.16 billion, a PE ratio of 22.76 and a beta of 0.25. New Oriental Education & Technology Group has a 1-year low of $40.66 and a 1-year high of $87.26.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The company's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts expect that New Oriental Education & Technology Group will post 2.75 EPS for the current fiscal year.
Institutional Investors Weigh In On New Oriental Education & Technology Group
Several hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $51,000. Green Court Capital Management Ltd bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $21,152,000. Raymond James Financial Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $266,000. Prescott Group Capital Management L.L.C. raised its holdings in shares of New Oriental Education & Technology Group by 153.0% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 25,303 shares of the company's stock worth $1,624,000 after acquiring an additional 15,303 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in New Oriental Education & Technology Group by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock valued at $1,377,000 after acquiring an additional 247 shares in the last quarter.
New Oriental Education & Technology Group Company Profile
(
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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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