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New Oriental Education & Technology Group, Inc. (NYSE:EDU) Earns “Buy” Rating from Jefferies Group LLC
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Several other equities research analysts also recently issued reports on EDU. Benchmark Co. started coverage on New Oriental Education & Technology Group in a report on Tuesday, April 18th. They issued a buy rating and a $75.00 price target for the company. Zacks Investment Research upgraded New Oriental Education & Technology Group from a hold rating to a buy rating and set a $70.00 price target for the company in a report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) upgraded New Oriental Education & Technology Group from a neutral rating to a buy rating in a report on Tuesday, May 16th. Finally, J P Morgan Chase & Co restated a neutral rating and issued a $62.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, May 17th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $64.54.
Shares of New Oriental Education & Technology Group (EDU) traded up 2.84% during midday trading on Friday, reaching $82.07. The company’s stock had a trading volume of 1,200,702 shares. The stock has a 50-day moving average of $73.02 and a 200 day moving average of $57.96. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 49.47 and a beta of 1.36. New Oriental Education & Technology Group has a 12 month low of $37.16 and a 12 month high of $83.21.
New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Monday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. New Oriental Education & Technology Group had a return on equity of 16.94% and a net margin of 15.28%. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $418.67 million. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, analysts predict that New Oriental Education & Technology Group will post $1.85 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of EDU. OppenheimerFunds Inc. boosted its position in New Oriental Education & Technology Group by 1.5% in the first quarter. OppenheimerFunds Inc. now owns 9,328,992 shares of the company’s stock valued at $563,284,000 after buying an additional 134,050 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of New Oriental Education & Technology Group by 2.0% in the first quarter. Baillie Gifford & Co. now owns 8,217,804 shares of the company’s stock valued at $496,191,000 after buying an additional 160,021 shares during the period. BlackRock Inc. boosted its position in shares of New Oriental Education & Technology Group by 5,434.7% in the first quarter. BlackRock Inc. now owns 6,286,645 shares of the company’s stock valued at $379,587,000 after buying an additional 6,173,060 shares during the period. Wellington Management Group LLP boosted its position in shares of New Oriental Education & Technology Group by 16.9% in the first quarter. Wellington Management Group LLP now owns 3,694,007 shares of the company’s stock valued at $223,045,000 after buying an additional 533,495 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of New Oriental Education & Technology Group by 235.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,106,533 shares of the company’s stock valued at $127,192,000 after buying an additional 1,478,100 shares during the period. 83.36% of the stock is owned by institutional investors.
About New Oriental Education & Technology Group
New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.