New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – Still a Buy?

New Oriental Education & Technology Group, Inc. (NYSE:EDU) gapped up before the market opened on Friday . The stock had previously closed at $55.03, but opened at $57.50. New Oriental Education & Technology Group shares last traded at $57.74, with a volume of 41,719 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EDU shares. Citigroup dropped their price target on shares of New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, September 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $60.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Zacks Research upgraded shares of New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Bank of America raised their target price on shares of New Oriental Education & Technology Group from $56.20 to $58.20 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.53.

New Oriental Education & Technology Group Stock Up 5.3%

The firm has a market capitalization of $9.16 billion, a PE ratio of 25.53, a PEG ratio of 1.36 and a beta of 0.29. The stock’s fifty day simple moving average is $54.62 and its 200 day simple moving average is $52.08.

New Oriental Education & Technology Group Dividend Announcement

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

Institutional Trading of New Oriental Education & Technology Group

Hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP bought a new position in shares of New Oriental Education & Technology Group in the first quarter worth about $682,000. Yiheng Capital Management L.P. increased its holdings in New Oriental Education & Technology Group by 15.4% in the 1st quarter. Yiheng Capital Management L.P. now owns 598,080 shares of the company’s stock worth $28,594,000 after acquiring an additional 79,766 shares in the last quarter. Serenity Capital Management PTE. LTD. increased its holdings in New Oriental Education & Technology Group by 635.4% in the 1st quarter. Serenity Capital Management PTE. LTD. now owns 245,498 shares of the company’s stock worth $11,737,000 after acquiring an additional 212,116 shares in the last quarter. First Beijing Investment Ltd raised its stake in New Oriental Education & Technology Group by 1,997.8% during the 1st quarter. First Beijing Investment Ltd now owns 5,456,378 shares of the company’s stock worth $260,869,000 after acquiring an additional 5,196,281 shares during the period. Finally, Siren L.L.C. lifted its holdings in New Oriental Education & Technology Group by 16.1% during the first quarter. Siren L.L.C. now owns 79,500 shares of the company’s stock valued at $3,801,000 after purchasing an additional 11,000 shares in the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.