New Oriental Education & Technology Group, Inc. (NYSE:EDU) Given Average Recommendation of “Buy” by Analysts

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $65.84.

A number of research analysts have weighed in on the company. Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. HSBC raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. The Goldman Sachs Group restated a “neutral” rating and set a $60.00 target price on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th.

New Oriental Education & Technology Group Stock Down 5.2%

Shares of EDU stock opened at $56.97 on Thursday. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.03 and a beta of 0.27. The stock has a fifty day moving average of $57.99 and a 200 day moving average of $54.57. New Oriental Education & Technology Group has a 52 week low of $40.66 and a 52 week high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $0.22 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate that New Oriental Education & Technology Group will post 2.75 earnings per share for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of large investors have recently bought and sold shares of EDU. Bessemer Group Inc. bought a new position in New Oriental Education & Technology Group during the 2nd quarter valued at about $37,000. Hantz Financial Services Inc. lifted its position in New Oriental Education & Technology Group by 738.0% during the second quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after purchasing an additional 797 shares during the period. Carrhae Capital LLP purchased a new stake in New Oriental Education & Technology Group in the second quarter worth approximately $18,717,000. Fox Run Management L.L.C. purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth $538,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in New Oriental Education & Technology Group in the second quarter valued at about $621,000.

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.