New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $49.07, but opened at $47.49. New Oriental Education & Technology Group shares last traded at $47.16, with a volume of 36,972 shares traded.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on EDU shares. 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. JPMorgan Chase & Co. cut their price target on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $48.50.
Read Our Latest Stock Analysis on EDU
New Oriental Education & Technology Group Trading Up 0.4%
The company has a market cap of $7.78 billion, a price-to-earnings ratio of 19.51 and a beta of 0.25. The company's 50 day moving average price is $46.54 and its 200 day moving average price is $52.21.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.24 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. Sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.
Hedge Funds Weigh In On New Oriental Education & Technology Group
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Beijing Investment Ltd lifted its stake in New Oriental Education & Technology Group by 1,997.8% in the 1st quarter. First Beijing Investment Ltd now owns 5,456,378 shares of the company's stock valued at $260,869,000 after buying an additional 5,196,281 shares in the last quarter. Aspex Management HK Ltd raised its stake in New Oriental Education & Technology Group by 56.8% in the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock valued at $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. Discerene Group LP acquired a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth about $75,564,000. Price T Rowe Associates Inc. MD boosted its stake in shares of New Oriental Education & Technology Group by 61.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock worth $249,952,000 after purchasing an additional 1,480,391 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of New Oriental Education & Technology Group by 175.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock worth $146,123,000 after buying an additional 1,449,979 shares in the last quarter.
About New Oriental Education & Technology Group
(
Get Free Report)
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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