New Oriental Education & Technology Group (NYSE:EDU) Rating Increased to Hold at StockNews.com

by · The Markets Daily

New Oriental Education & Technology Group (NYSE:EDU – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

EDU has been the subject of a number of other reports. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th. Citigroup dropped their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

Get Our Latest Stock Analysis on EDU

New Oriental Education & Technology Group Stock Performance

EDU stock traded down $0.30 during midday trading on Thursday, reaching $61.18. 2,455,984 shares of the company traded hands, compared to its average volume of 1,907,124. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 32.89 and a beta of 0.47. New Oriental Education & Technology Group has a 52-week low of $58.60 and a 52-week high of $98.20. The business has a 50 day moving average of $67.08 and a 200-day moving average of $74.20.

New Oriental Education & Technology Group (NYSE:EDU – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.61. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. New Oriental Education & Technology Group’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Research analysts anticipate that New Oriental Education & Technology Group will post 2.83 earnings per share for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds have recently added to or reduced their stakes in EDU. Renaissance Technologies LLC raised its stake in shares of New Oriental Education & Technology Group by 5.5% during the second quarter. Renaissance Technologies LLC now owns 3,175,554 shares of the company’s stock valued at $246,836,000 after acquiring an additional 164,600 shares in the last quarter. WT Asset Management Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 21.4% in the 2nd quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock worth $134,533,000 after buying an additional 304,712 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of New Oriental Education & Technology Group by 3.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company’s stock worth $115,071,000 after buying an additional 56,100 shares in the last quarter. Farallon Capital Management LLC grew its position in shares of New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its stake in shares of New Oriental Education & Technology Group by 16.6% during the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock valued at $107,283,000 after buying an additional 196,133 shares during the period.

New Oriental Education & Technology Group Company Profile

(Get Free Report)

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.

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