Price T Rowe Associates Inc. MD raised its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 61.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,894,541 shares of the company's stock after acquiring an additional 1,480,391 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.29% of New Oriental Education & Technology Group worth $249,952,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock worth $62,703,000 after buying an additional 543,810 shares during the period. Barclays PLC raised its position in New Oriental Education & Technology Group by 8,438.4% in the fourth quarter. Barclays PLC now owns 95,716 shares of the company's stock valued at $6,142,000 after purchasing an additional 94,595 shares during the period. Green Court Capital Management Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at about $21,152,000. Panview Capital Ltd purchased a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $27,358,000. Finally, Erste Asset Management GmbH acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth approximately $1,264,000.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Morgan Stanley lowered 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. JPMorgan Chase & Co. reduced their price objective on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Macquarie lowered shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their target price for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, Citigroup lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price target for the company from $83.00 to $50.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $60.80.
Read Our Latest Stock Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Trading Down 0.4 %
NYSE:EDU traded down $0.19 during mid-day trading on Thursday, hitting $48.66. The stock had a trading volume of 102,518 shares, compared to its average volume of 1,833,104. The company has a 50 day simple moving average of $46.83 and a 200-day simple moving average of $54.73. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 20.70 and a beta of 0.37. New Oriental Education & Technology Group Inc. has a 52 week low of $40.66 and a 52 week high of $89.33.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its earnings results 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 8.13% and a return on equity of 9.48%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm's revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.
New Oriental Education & Technology Group Profile
(
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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