Northern Trust Corp Buys 90,384 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Northern Trust Corp boosted its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 265.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,469 shares of the company’s stock after purchasing an additional 90,384 shares during the period. Northern Trust Corp owned about 0.07% of New Oriental Education & Technology Group worth $7,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in New Oriental Education & Technology Group by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock valued at $1,377,000 after purchasing an additional 247 shares during the last quarter. Natixis lifted its stake in New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company’s stock valued at $57,000 after purchasing an additional 248 shares during the last quarter. GeoWealth Management LLC lifted its stake in New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Westpac Banking Corp bought a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $45,000. Finally, Blue Trust Inc. lifted its stake in New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares during the last quarter.

New Oriental Education & Technology Group Stock Down 0.4%

EDU opened at $48.62 on Monday. New Oriental Education & Technology Group Inc. has a twelve month low of $40.66 and a twelve month high of $87.26. The company has a fifty day moving average of $47.04 and a 200-day moving average of $53.13. The stock has a market cap of $8.25 billion, a PE ratio of 20.69 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $83.00 to $50.00 in a research report on Friday, January 24th. Finally, China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.80.

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.