New Oriental Education & Technology Group Inc. (NYSE:EDU – Get Rating) has received an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $36.60.
EDU has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on New Oriental Education & Technology Group in a report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet downgraded New Oriental Education & Technology Group from a “c-” rating to a “d” rating in a research report on Monday, November 21st.
Institutional Trading of New Oriental Education & Technology Group
Hedge funds have recently modified their holdings of the business. US Bancorp DE lifted its holdings in shares of New Oriental Education & Technology Group by 29.2% in the second quarter. US Bancorp DE now owns 7,509 shares of the company’s stock valued at $154,000 after purchasing an additional 1,696 shares in the last quarter. Carmignac Gestion lifted its holdings in shares of New Oriental Education & Technology Group by 187.6% in the first quarter. Carmignac Gestion now owns 43,110,546 shares of the company’s stock valued at $49,647,000 after purchasing an additional 28,122,503 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at $2,861,000. Granite Point Capital Management L.P. purchased a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at $509,000. Finally, Ariose Capital Management Ltd purchased a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at $6,395,000. Hedge funds and other institutional investors own 67.55% of the company’s stock.
New Oriental Education & Technology Group Trading Up 0.3 %
Shares of New Oriental Education & Technology Group stock opened at $38.56 on Wednesday. The business’s 50 day simple moving average is $28.93 and its 200-day simple moving average is $25.77. New Oriental Education & Technology Group has a twelve month low of $8.40 and a twelve month high of $42.19.
New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.38 earnings per share for the quarter. The company had revenue of $744.80 million for the quarter, compared to analyst estimates of $689.08 million. The company’s revenue for the quarter was down 43.1% on a year-over-year basis. Research analysts anticipate that New Oriental Education & Technology Group will post 0.48 earnings per share for the current fiscal year.
About New Oriental Education & Technology Group
New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.
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