New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report)'s share price rose 4.5% on Monday . The stock traded as high as $48.78 and last traded at $48.70. Approximately 756,177 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 1,736,341 shares. The stock had previously closed at $46.61.
Wall Street Analysts Forecast Growth
Several research firms have commented on EDU. Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $48.00 to $62.00 in a report on Tuesday. 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $52.00.
View Our Latest Stock Report on EDU
New Oriental Education & Technology Group Price Performance
The company has a market capitalization of $9.24 billion, a PE ratio of 22.97 and a beta of 0.25. The firm has a 50-day moving average of $47.90 and a 200 day moving average of $50.90.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period last year, the business earned $0.63 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts expect that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.
Institutional Investors Weigh In On New Oriental Education & Technology Group
Institutional investors have recently modified their holdings of the business. Aspex Management HK Ltd boosted its position in New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock worth $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. First Beijing Investment Ltd boosted its position in New Oriental Education & Technology Group by 1,997.8% in the first quarter. First Beijing Investment Ltd now owns 5,456,378 shares of the company's stock worth $260,869,000 after purchasing an additional 5,196,281 shares during the last quarter. FMR LLC boosted its position in New Oriental Education & Technology Group by 46.3% in the fourth quarter. FMR LLC now owns 4,539,678 shares of the company's stock worth $291,357,000 after purchasing an additional 1,437,656 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in New Oriental Education & Technology Group by 61.3% in the fourth 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, Schroder Investment Management Group boosted its position in New Oriental Education & Technology Group by 17.2% in the fourth quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company's stock worth $193,815,000 after purchasing an additional 442,656 shares during the last quarter.
New Oriental Education & Technology Group Company Profile
(
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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