New Oriental Education & Technology Group Inc. (NYSE:EDU – Get Rating)’s share price gapped up prior to trading on Monday . The stock had previously closed at $16.21, but opened at $17.60. New Oriental Education & Technology Group shares last traded at $16.45, with a volume of 84,435 shares.
EDU has been the topic of a number of recent research reports. Daiwa Capital Markets upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 9th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating in a research report on Monday. CLSA upgraded shares of New Oriental Education & Technology Group from an “underperform” rating to an “outperform” rating in a research report on Wednesday, April 27th. UBS Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a research report on Monday, June 6th. Finally, StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.00.
The company’s 50 day simple moving average is $11.93 and its 200 day simple moving average is $14.81.
New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last released its earnings results on Tuesday, April 26th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of $0.71 by ($1.44). The business had revenue of $614.09 million for the quarter, compared to analysts’ expectations of $642.75 million. As a group, research analysts anticipate that New Oriental Education & Technology Group Inc. will post 1.79 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in EDU. Morgan Stanley grew its stake in shares of New Oriental Education & Technology Group by 196.3% in the 3rd quarter. Morgan Stanley now owns 54,714,708 shares of the company’s stock worth $112,165,000 after purchasing an additional 36,248,561 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $74,058,000. Carmignac Gestion grew its stake in shares of New Oriental Education & Technology Group by 187.6% in the 1st quarter. Carmignac Gestion now owns 43,110,546 shares of the company’s stock worth $49,647,000 after purchasing an additional 28,122,503 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of New Oriental Education & Technology Group by 626.4% in the 3rd quarter. Two Sigma Investments LP now owns 30,108,015 shares of the company’s stock worth $61,721,000 after purchasing an additional 25,962,977 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of New Oriental Education & Technology Group by 2,189.1% in the 3rd quarter. Two Sigma Advisers LP now owns 24,157,200 shares of the company’s stock worth $49,522,000 after purchasing an additional 23,101,900 shares during the last quarter.
About New Oriental Education & Technology Group (NYSE:EDU)
New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People’s Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.
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Source: defenseworld.net
