KBC Group NV Makes New Investment in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

KBC Group NV purchased a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,020 shares of the company’s stock, valued at approximately $192,000.

A number of other institutional investors also recently modified their holdings of EDU. Aspex Management HK Ltd raised its stake in shares of New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock valued at $478,456,000 after acquiring an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of New Oriental Education & Technology Group by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock valued at $249,952,000 after acquiring an additional 1,480,391 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of New Oriental Education & Technology Group by 175.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock valued at $146,123,000 after acquiring an additional 1,449,979 shares during the last quarter. Norges Bank bought a new position in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $92,345,000. Finally, FMR LLC raised its stake in shares of New Oriental Education & Technology Group by 46.3% in the fourth quarter. FMR LLC now owns 4,539,678 shares of the company’s stock valued at $291,357,000 after acquiring an additional 1,437,656 shares during the last quarter.

New Oriental Education & Technology Group Price Performance

EDU stock opened at $51.32 on Monday. The company has a 50 day moving average price of $48.80 and a 200 day moving average price of $50.41. New Oriental Education & Technology Group, Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $87.26. The stock has a market capitalization of $8.71 billion, a PE ratio of 21.65 and a beta of 0.28.

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 9.91% and a net margin of 8.17%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm earned $0.63 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts expect that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $48.00 to $62.00 in a research note on Tuesday, June 24th. China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Citigroup upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $77.00 to $50.00 in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.00.

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.