New Oriental Education & Technology Group (NYSE:EDU) Upgraded to “Outperform” at Macquarie

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) was upgraded by equities research analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat reports.

Other equities analysts have also recently issued research 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. UBS Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a research report on Monday, June 6th. CICC Research raised shares of New Oriental Education & Technology Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating in a research report on Monday, June 13th. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

New Oriental Education & Technology Group Price Performance

EDU stock opened at $27.41 on Thursday. The stock has a market capitalization of $4.65 billion, a PE ratio of 11.91 and a beta of 0.37. The company’s 50-day moving average is $19.39 and its 200-day moving average is $15.26. New Oriental Education & Technology Group has a 1 year low of $8.40 and a 1 year high of $29.73.

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.97). The firm had revenue of $524.00 million for the quarter, compared to the consensus estimate of $544.92 million. The company’s revenue was down 56.7% on a year-over-year basis. On average, analysts anticipate that New Oriental Education & Technology Group will post 1.79 earnings per share for the current fiscal year.

New Oriental Education & Technology Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eaton Vance Management increased its stake in New Oriental Education & Technology Group by 306.7% in the 1st quarter. Eaton Vance Management now owns 22,543 shares of the company’s stock valued at $26,000 after buying an additional 17,000 shares during the last quarter. Icapital Wealth LLC purchased a new stake in New Oriental Education & Technology Group in the 4th quarter valued at about $35,000. DGS Capital Management LLC purchased a new stake in New Oriental Education & Technology Group in the 4th quarter valued at about $46,000. Royal Bank of Canada increased its stake in New Oriental Education & Technology Group by 13.6% in the 1st quarter. Royal Bank of Canada now owns 44,215 shares of the company’s stock valued at $51,000 after buying an additional 5,299 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in New Oriental Education & Technology Group by 18.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 47,823 shares of the company’s stock valued at $55,000 after buying an additional 7,300 shares during the last quarter.

About New Oriental Education & Technology Group

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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.