New Oriental Education & Technology Group (NYSE:EDU) Sees Large Volume Increase

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,685,429 shares changed hands during trading, a decline of 4% from the previous session's volume of 1,753,971 shares.The stock last traded at $80.52 and had previously closed at $77.08.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EDU. Citigroup increased their price objective on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley boosted their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Finally, StockNews.com lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.67.

New Oriental Education & Technology Group Trading Up 3.3 %

The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 43.77 and a beta of 0.49. The firm's 50 day simple moving average is $89.48 and its two-hundred day simple moving average is $78.82.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.23). The company had revenue of $869.60 million for the quarter, compared to analyst estimates of $814.01 million. New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The company's quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS. As a group, equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EDU. Norden Group LLC bought a new position in New Oriental Education & Technology Group in the 1st quarter valued at about $796,000. Claro Advisors LLC lifted its position in shares of New Oriental Education & Technology Group by 5.3% during the 1st quarter. Claro Advisors LLC now owns 3,797 shares of the company's stock worth $330,000 after buying an additional 191 shares during the last quarter. Matthews International Capital Management LLC boosted its stake in New Oriental Education & Technology Group by 101.7% in the first quarter. Matthews International Capital Management LLC now owns 94,905 shares of the company's stock valued at $8,240,000 after buying an additional 47,862 shares in the last quarter. Nomura Holdings Inc. grew its position in New Oriental Education & Technology Group by 53.9% in the fourth quarter. Nomura Holdings Inc. now owns 225,539 shares of the company's stock valued at $16,527,000 after acquiring an additional 78,993 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in New Oriental Education & Technology Group by 141.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company's stock worth $117,892,000 after acquiring an additional 942,392 shares in the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.