New Oriental Education & Technology Group (NYSE:EDU) Upgraded at Hsbc Global Res

Key Points

• New Oriental Education & Technology Group's stock rating was upgraded by HSBC Global Research to a "hold" status, reflecting mixed sentiments from analysts.
• The company's recent earnings report showed an EPS of $0.61, surpassing estimates, with quarterly revenue reaching $1.24 billion, a 9.4% increase year-over-year.
• Analysts have varied outlooks on the stock, with a consensus rating of “Hold” and an average price target of $52.00, highlighting a range of investor perspectives on its performance.

Hsbc Global Res upgraded shares of New Oriental Education & Technology Group (NYSE:EDU - Free Report) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on EDU. HSBC lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Citigroup raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and cut their price target for the company from $77.00 to $50.00 in a report on Friday, June 27th. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $48.00 to $62.00 in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $52.00.

New Oriental Education & Technology Group Stock Up 0.7%

Shares of EDU stock traded up $0.32 on Wednesday, hitting $46.57. The company had a trading volume of 621,213 shares, compared to its average volume of 1,564,397. The company has a 50-day moving average price of $48.95 and a 200-day moving average price of $48.40. New Oriental Education & Technology Group has a twelve month low of $40.66 and a twelve month high of $87.26. The firm has a market cap of $7.58 billion, a P/E ratio of 20.69 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.37. New Oriental Education & Technology Group had a return on equity of 11.32% and a net margin of 7.59%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business posted $0.22 earnings per share. New Oriental Education & Technology Group's revenue was up 9.4% compared to the same quarter last year. Equities research analysts expect that New Oriental Education & Technology Group will post 2.75 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis raised its stake in 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 last quarter. GeoWealth Management LLC boosted its stake in shares of New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after acquiring an additional 318 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter worth approximately $37,000. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth approximately $45,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of New Oriental Education & Technology Group by 738.0% in the second quarter. Hantz Financial Services Inc. now owns 905 shares of the company's stock worth $49,000 after acquiring an additional 797 shares during the last quarter.

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.