New Oriental Education & Technology Group (NYSE:EDU) Lifted to “Hold” at Zacks Investment Research

New Oriental Education & Technology Group (NYSE:EDUGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “New Oriental is the largest provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of English and other foreign language training, test preparation courses for major admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education. New Oriental’s ADSs, each of which represents four common shares, currently trade on the New York Stock Exchange under the symbol ”EDU.” “

Other equities research analysts have also recently issued reports about the stock. CLSA raised shares of New Oriental Education & Technology Group from an “underperform” rating to an “outperform” rating in a research report on Wednesday, April 27th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from an “underweight” rating to a “neutral” rating in a research note on Monday, May 2nd. Daiwa Capital Markets upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 9th. Finally, StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.00.

Shares of NYSE:EDU traded up $0.14 on Wednesday, reaching $10.94. 1,153,288 shares of the company traded hands, compared to its average volume of 3,929,941. The company’s 50 day moving average is $11.65 and its 200-day moving average is $15.61. The stock has a market capitalization of $1.86 billion, a PE ratio of 6.21 and a beta of 0.80. New Oriental Education & Technology Group has a fifty-two week low of $8.40 and a fifty-two week high of $112.00.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last released its earnings results on Tuesday, April 26th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($1.44). The company had revenue of $614.09 million during the quarter, compared to analyst estimates of $642.75 million. As a group, research analysts forecast that New Oriental Education & Technology Group will post 1.79 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of EDU. Advisor Group Holdings Inc. grew its holdings in New Oriental Education & Technology Group by 24.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 85,178 shares of the company’s stock valued at $175,000 after buying an additional 16,678 shares in the last quarter. Creative Planning purchased a new position in New Oriental Education & Technology Group during the third quarter worth $533,000. Panagora Asset Management Inc. boosted its stake in New Oriental Education & Technology Group by 96.7% during the third quarter. Panagora Asset Management Inc. now owns 191,825 shares of the company’s stock worth $393,000 after buying an additional 94,285 shares during the period. California Public Employees Retirement System lifted its position in shares of New Oriental Education & Technology Group by 0.8% during the third quarter. California Public Employees Retirement System now owns 3,269,170 shares of the company’s stock worth $6,702,000 after purchasing an additional 26,135 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of New Oriental Education & Technology Group by 136.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,095,029 shares of the company’s stock valued at $2,245,000 after acquiring an additional 632,288 shares in the last quarter.

New Oriental Education & Technology Group Company Profile (Get Rating)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.

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