New Oriental Education & Technology Group (NYSE:EDU) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• New Oriental Education & Technology Group (NYSE: EDU) moved above its 200-day moving average in Friday trading, a technical signal watched by investors. The stock briefly reached $56.16 before last trading around $53.60.
• Analyst sentiment is generally positive, with the stock carrying a Moderate Buy consensus and an average price target of $65.84. Recent notes included upgrades from HSBC and Wall Street Zen, though a few firms also trimmed their ratings.
• The company recently reported quarterly EPS of $0.10 on revenue of $1.42 billion, and analysts expect full-year earnings of $3.14 per share. The stock also shows a relatively low beta of 0.24, indicating less volatility than the broader market.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $56.09 and traded as high as $56.16. New Oriental Education & Technology Group shares last traded at $53.5960, with a volume of 928,742 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. New Street Research set a $68.00 target price on shares of New Oriental Education & Technology Group in a report on Wednesday, January 28th. 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. Weiss Ratings cut shares of New Oriental Education & Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. HSBC upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Wednesday, January 28th. Finally, Zacks Research cut shares of New Oriental Education & Technology Group from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of "Moderate Buy" and a consensus price target of $65.84.

New Oriental Education & Technology Group Stock Performance

The business's 50 day moving average is $55.22 and its 200 day moving average is $56.09. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.24.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $0.10 EPS for the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. The firm had revenue of $1.42 billion during the quarter. Research analysts expect that New Oriental Education & Technology Group, Inc. will post 3.14 earnings per share for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EDU. Cerity Partners LLC acquired a new position in New Oriental Education & Technology Group in the 2nd quarter worth approximately $221,000. Sei Investments Co. boosted its stake in New Oriental Education & Technology Group by 46.6% in the 2nd quarter. Sei Investments Co. now owns 5,122 shares of the company's stock worth $276,000 after purchasing an additional 1,629 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in New Oriental Education & Technology Group in the 2nd quarter worth approximately $378,000. Quantinno Capital Management LP boosted its stake in New Oriental Education & Technology Group by 168.2% in the 2nd quarter. Quantinno Capital Management LP now owns 13,215 shares of the company's stock worth $713,000 after purchasing an additional 8,287 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in New Oriental Education & Technology Group in the 2nd quarter worth approximately $111,000.

About New Oriental Education & Technology Group

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.

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