New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up - Still a Buy?

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $49.05, but opened at $51.98. New Oriental Education & Technology Group shares last traded at $54.20, with a volume of 908,706 shares trading hands.

Analyst Upgrades and Downgrades

EDU has been the subject of a number of analyst reports. 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 downgraded shares of 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 shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $48.00 to $62.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of "Hold" and an average target price of $52.00.

New Oriental Education & Technology Group Trading Up 13.5%

The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 23.41 and a beta of 0.25. The company has a fifty day moving average of $47.30 and a two-hundred day moving average of $50.94.

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 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). The firm had revenue of $1.18 billion during 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 period in the prior year, the business earned $0.63 EPS. As a group, sell-side analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Large investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 purchasing an additional 247 shares during the period. 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 valued at $57,000 after buying an additional 248 shares during the period. GeoWealth Management LLC grew its position in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after buying an additional 318 shares in the last quarter. Westpac Banking Corp bought a new position in New Oriental Education & Technology Group during the fourth quarter valued at about $45,000. Finally, Corient Private Wealth LLC increased its stake in New Oriental Education & Technology Group by 27.4% during the fourth quarter. Corient Private Wealth LLC now owns 3,685 shares of the company's stock valued at $237,000 after acquiring an additional 792 shares during the period.

New Oriental Education & Technology Group Company Profile

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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