New Oriental Education & Technology Group (NYSE:EDU) Upgraded to "Overweight" at JPMorgan Chase & Co.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report released on Tuesday, Marketbeat reports. The firm currently has a $62.00 price objective on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 26.20% from the company's previous close.

Several other brokerages have also recently issued reports on EDU. Wall Street Zen raised 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 lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.00.

New Oriental Education & Technology Group Trading Up 5.4%

Shares of NYSE:EDU opened at $49.13 on Tuesday. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 20.73 and a beta of 0.25. The stock's 50-day moving average price is $47.30 and its two-hundred day moving average price is $50.94. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.91% and a net margin of 8.17%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $0.63 earnings per share. New Oriental Education & Technology Group's revenue was down 2.0% on a year-over-year basis. As a group, research analysts forecast that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently made changes to their positions in the business. Siren L.L.C. boosted its position in New Oriental Education & Technology Group by 16.1% during the 1st quarter. Siren L.L.C. now owns 79,500 shares of the company's stock worth $3,801,000 after purchasing an additional 11,000 shares during the period. First Beijing Investment Ltd lifted its stake in shares of New Oriental Education & Technology Group by 1,997.8% during 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 in the last quarter. Serenity Capital Management PTE. LTD. boosted its position in shares of New Oriental Education & Technology Group by 635.4% in the first quarter. Serenity Capital Management PTE. LTD. now owns 245,498 shares of the company's stock worth $11,737,000 after buying an additional 212,116 shares during the period. Yiheng Capital Management L.P. boosted its position in shares of New Oriental Education & Technology Group by 15.4% in the first quarter. Yiheng Capital Management L.P. now owns 598,080 shares of the company's stock worth $28,594,000 after buying an additional 79,766 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of New Oriental Education & Technology Group in the first quarter valued at about $682,000.

About New Oriental Education & Technology Group

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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