4. QUALITY EDUCATION

New Oriental Education & Technology Group (NYSE:EDU) Downgraded by Morgan Stanley to Equal Weight – MarketBeat

Written by Amanda

New Oriental Education & Technology Group Inc. (NYSE:EDUGet Free Report)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $46.13, but opened at $47.75. New Oriental Education & Technology Group shares last traded at $47.02, with a volume of 988,806 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EDU shares. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $83.00 to $52.00 in a research note on Wednesday. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $83.00 to $50.00 in a research report on Friday. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $50.00 in a research note on Wednesday. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $79.00 to $44.00 in a report on Wednesday. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.20.

Read Our Latest Stock Analysis on New Oriental Education & Technology Group

New Oriental Education & Technology Group Stock Performance

The business has a 50-day simple moving average of $60.03 and a two-hundred day simple moving average of $64.70. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.88 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDUGet Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. Research analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in EDU. Aspex Management HK Ltd grew its holdings in New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after acquiring an additional 1,513,640 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of New Oriental Education & Technology Group by 20,215.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after purchasing an additional 989,536 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after purchasing an additional 543,810 shares in the last quarter. Millennium Management LLC lifted its stake in shares of New Oriental Education & Technology Group by 147.5% in the second quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after purchasing an additional 436,098 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in New Oriental Education & Technology Group during the third quarter worth about $27,425,000.

About New Oriental Education & Technology Group

(Get Free Report)

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.

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Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai