New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Lowered by Macquarie

Macquarie cut shares of New Oriental Education & Technology Group (NYSE:EDU - Free Report) from an outperform rating to an underperform rating in a research note published on Wednesday morning, Marketbeat reports. They currently have $44.00 target price on the stock, down from their prior target price of $79.00.

EDU has been the topic of a number of other reports. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $85.00 to $50.00 in a report on Wednesday. StockNews.com raised New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $72.40.

New Oriental Education & Technology Group Stock Performance

Shares of EDU traded down $0.50 during mid-day trading on Wednesday, hitting $46.22. 5,539,036 shares of the stock were exchanged, compared to its average volume of 2,378,132. The company has a market cap of $7.84 billion, a PE ratio of 19.75 and a beta of 0.44. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $98.20. The firm has a 50-day moving average of $60.57 and a two-hundred day moving average of $65.19.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $0.99 EPS. New Oriental Education & Technology Group's quarterly revenue was up 30.5% on a year-over-year basis. On average, sell-side analysts predict that New Oriental Education & Technology Group will post 2.94 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Fiera Capital Corp increased its holdings in New Oriental Education & Technology Group by 19.8% in the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company's stock valued at $3,896,000 after purchasing an additional 8,499 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock worth $62,703,000 after acquiring an additional 543,810 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of New Oriental Education & Technology Group by 3.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company's stock valued at $44,940,000 after buying an additional 19,401 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of New Oriental Education & Technology Group by 12.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company's stock valued at $7,573,000 after buying an additional 11,423 shares during the last quarter. Finally, Monolith Management Ltd bought a new stake in shares of New Oriental Education & Technology Group during the third quarter valued at approximately $15,168,000.

About New Oriental Education & Technology Group

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.