Brokerages Set New Oriental Education & Technology Group, Inc. (NYSE:EDU) PT at $52.00

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has earned a consensus rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $52.00.

Several research analysts have recently commented on EDU shares. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $48.00 to $62.00 in a research note on Tuesday, June 24th. China Renaissance lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Finally, Citigroup raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and reduced their target price for the company from $77.00 to $50.00 in a report on Friday, June 27th.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds have recently added to or reduced their stakes in EDU. Connor Clark & Lunn Investment Management Ltd. raised its holdings in New Oriental Education & Technology Group by 1.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock worth $1,377,000 after purchasing an additional 247 shares in the last quarter. Natixis raised its holdings in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after purchasing an additional 248 shares in the last quarter. GeoWealth Management LLC raised its holdings in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Westpac Banking Corp acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $45,000. Finally, Corient Private Wealth LLC raised its holdings in New Oriental Education & Technology Group by 27.4% during the fourth quarter. Corient Private Wealth LLC now owns 3,685 shares of the company’s stock worth $237,000 after purchasing an additional 792 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of EDU opened at $50.10 on Wednesday. The company’s 50-day simple moving average is $49.39 and its 200-day simple moving average is $49.76. New Oriental Education & Technology Group has a 1 year low of $40.66 and a 1 year high of $87.26. The stock has a market capitalization of $8.50 billion, a PE ratio of 21.14 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 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the business posted $0.63 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that New Oriental Education & Technology Group will post 2.75 earnings per share for the current year.

New Oriental Education & Technology Group Company Profile

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.