New Oriental Education & Technology Group (NYSE:EDU) Shares Up 4.9% - Here's Why

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report)'s stock price rose 4.9% during mid-day trading on Tuesday . The stock traded as high as $49.04 and last traded at $49.28. Approximately 122,469 shares were traded during trading, a decline of 93% from the average daily volume of 1,848,797 shares. The stock had previously closed at $46.97.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Macquarie lowered New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and dropped their price target for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Finally, Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $60.80.

New Oriental Education & Technology Group Price Performance

The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 21.17 and a beta of 0.37. The company's 50 day moving average is $46.88 and its 200 day moving average is $54.31.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates 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 revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. Sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of New Oriental Education & Technology Group by 65.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 46,791 shares of the company's stock valued at $2,237,000 after buying an additional 18,579 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in New Oriental Education & Technology Group by 62.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,000 shares of the company's stock worth $601,000 after acquiring an additional 5,000 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in New Oriental Education & Technology Group in the first quarter valued at about $344,000. KBC Group NV bought a new position in shares of New Oriental Education & Technology Group during the 1st quarter valued at $192,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in New Oriental Education & Technology Group by 3,276.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company's stock worth $50,507,000 after buying an additional 1,025,130 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.