New Oriental Education & Technology Group Inc. (NYSE:EDU) Receives Average Rating of “Hold” from Analysts

New Oriental Education & Technology Group Inc. (NYSE:EDU) has been assigned a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $72.40.

A number of brokerages have issued reports on EDU. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $79.00 to $44.00 in a research note on Wednesday. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $50.00 in a research note on Wednesday. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday.

New Oriental Education & Technology Group Price Performance

NYSE EDU traded down $0.00 during mid-day trading on Wednesday, hitting $46.71. The stock had a trading volume of 1,476,531 shares, compared to its average volume of 2,034,771. The firm’s 50 day moving average is $60.57 and its 200 day moving average is $65.19. New Oriental Education & Technology Group has a twelve month low of $44.46 and a twelve month high of $98.20. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.94 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned $0.99 EPS. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, equities research analysts expect that New Oriental Education & Technology Group will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares during the period. Profund Advisors LLC boosted its holdings in New Oriental Education & Technology Group by 1.4% during the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock valued at $1,344,000 after acquiring an additional 231 shares during the period. Blue Trust Inc. boosted its holdings in New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after acquiring an additional 775 shares during the period. ABS Direct Equity Fund LLC boosted its stake in shares of New Oriental Education & Technology Group by 17.5% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock valued at $561,000 after buying an additional 1,100 shares during the period. Finally, Hancock Whitney Corp boosted its stake in shares of New Oriental Education & Technology Group by 49.4% in the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock valued at $309,000 after buying an additional 1,348 shares during the period.

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.