New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives Consensus Rating of “Hold” from Brokerages

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been assigned a consensus rating of “Hold” from the eleven research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $59.5333.

A number of equities research analysts recently weighed in on EDU shares. Bank of America raised their price objective on New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. raised their price target on shares of New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 29th. Zacks Research lowered shares of New Oriental Education & Technology Group from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Finally, Citigroup lowered their target price on shares of New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, September 9th.

New Oriental Education & Technology Group Trading Up 2.2%

Shares of NYSE:EDU opened at $53.93 on Friday. The company has a market capitalization of $8.52 billion, a PE ratio of 23.76, a P/E/G ratio of 1.24 and a beta of 0.32. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $64.38. The business’s fifty day simple moving average is $54.70 and its 200-day simple moving average is $51.19.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 18th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, November 18th. New Oriental Education & Technology Group’s payout ratio is 25.55%.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter worth about $72,000. Summit Securities Group LLC acquired a new stake in New Oriental Education & Technology Group in the 1st quarter worth approximately $136,000. Brooklyn Investment Group grew its position in New Oriental Education & Technology Group by 3,700.0% during the 1st quarter. Brooklyn Investment Group now owns 1,330 shares of the company’s stock worth $64,000 after purchasing an additional 1,295 shares during the last quarter. Discerene Group LP acquired a new position in New Oriental Education & Technology Group during the 1st quarter valued at approximately $75,564,000. Finally, Triata Capital Ltd acquired a new position in New Oriental Education & Technology Group during the 1st quarter valued at approximately $14,045,000.

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.