New Oriental Education & Technology Group (NYSE:EDU) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of New Oriental Education & Technology Group (NYSE:EDUFree Report) to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts also recently commented on EDU. HSBC downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Citigroup upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their price objective for the company from $77.00 to $50.00 in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $48.00 to $62.00 in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Hold” and a consensus target price of $52.00.

View Our Latest Research Report on EDU

New Oriental Education & Technology Group Stock Up 1.2%

NYSE:EDU opened at $44.63 on Wednesday. The company has a market cap of $7.57 billion, a PE ratio of 19.84 and a beta of 0.25. The business’s 50 day moving average is $48.95 and its two-hundred day moving average is $48.65. New Oriental Education & Technology Group has a 52 week low of $40.66 and a 52 week high of $87.26.

New Oriental Education & Technology Group (NYSE:EDUGet Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.37. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. New Oriental Education & Technology Group had a return on equity of 11.32% and a net margin of 7.59%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. As a group, sell-side analysts expect that New Oriental Education & Technology Group will post 2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several large investors have recently bought and sold shares of the stock. Natixis boosted its stake in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock valued at $57,000 after buying an additional 248 shares in the last quarter. GeoWealth Management LLC lifted its holdings 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 acquiring an additional 318 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $37,000. Westpac Banking Corp acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $45,000. Finally, Quantinno Capital Management LP raised its holdings in shares of New Oriental Education & Technology Group by 25.7% in the 4th quarter. Quantinno Capital Management LP now owns 4,031 shares of the company’s stock worth $259,000 after purchasing an additional 824 shares in the last quarter.

About New Oriental Education & Technology Group

(Get Free Report)

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.

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Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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