New Oriental Education & Technology Group (NYSE:EDU) Shares Down 2.7%

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price traded down 2.7% during trading on Monday . The stock traded as low as $65.33 and last traded at $65.48. 82,089 shares were traded during trading, a decline of 95% from the average session volume of 1,782,485 shares. The stock had previously closed at $67.29.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EDU. HSBC assumed coverage on New Oriental Education & Technology Group in a report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price objective for the company. Citigroup dropped their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Price Performance

The company has a fifty day simple moving average of $72.78 and a two-hundred day simple moving average of $81.32. The company has a market capitalization of $11.05 billion, a P/E ratio of 34.95 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. Equities analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.87 earnings per share for the current year.

New Oriental Education & Technology Group Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a dividend of $0.58 per share. The ex-dividend date is Monday, September 9th.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in shares of New Oriental Education & Technology Group by 147.5% in the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock worth $56,880,000 after acquiring an additional 436,098 shares during the period. Point72 Hong Kong Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 16.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock worth $107,283,000 after acquiring an additional 196,133 shares during the period. Point72 Asset Management L.P. boosted its position in shares of New Oriental Education & Technology Group by 26.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 686,400 shares of the company’s stock valued at $53,354,000 after acquiring an additional 145,200 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in New Oriental Education & Technology Group in the second quarter worth about $15,274,000. Finally, Farallon Capital Management LLC grew its stake in shares of New Oriental Education & Technology Group by 139.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after purchasing an additional 854,590 shares during the period.

New Oriental Education & Technology Group Company Profile

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.