Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $50.02, but opened at $48.75. New Oriental Education & Technology Group shares last traded at $48.15, with a volume of 203,485 shares.
Analysts Set New Price Targets
Several analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of 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 report on Tuesday, June 24th. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note 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, Citigroup raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their price target for the company from $77.00 to $50.00 in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, New Oriental Education & Technology Group currently has an average rating of "Hold" and an average price target of $52.00.
Get Our Latest Stock Analysis on EDU
New Oriental Education & Technology Group Price Performance
The company has a market capitalization of $8.01 billion, a PE ratio of 19.95 and a beta of 0.28. The firm's 50 day moving average is $49.39 and its 200 day moving average is $49.58.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.
Institutional Trading of New Oriental Education & Technology Group
A number of institutional investors and hedge funds have recently made changes to their positions in EDU. GeoWealth Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $45,000. Natixis raised its holdings in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after purchasing an additional 248 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in New Oriental Education & Technology Group during the first quarter worth $54,000. Finally, Brooklyn Investment Group boosted its stake in New Oriental Education & Technology Group by 3,700.0% in the 1st quarter. Brooklyn Investment Group now owns 1,330 shares of the company's stock worth $64,000 after buying an additional 1,295 shares during 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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