New Oriental Education & Technology Group (NYSE:EDU) Sets New 12-Month Low - Here's Why

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $50.67 and last traded at $45.74, with a volume of 790110 shares trading hands. The stock had previously closed at $60.84.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EDU. Macquarie cut New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price objective for the company from $79.00 to $44.00 in a research note on Wednesday. StockNews.com upgraded shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $83.00 to $52.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $85.00 to $50.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $72.40.

New Oriental Education & Technology Group Trading Up 1.4 %

The company's 50 day simple moving average is $60.22 and its 200-day simple moving average is $64.93. The firm has a market cap of $7.94 billion, a P/E ratio of 19.91 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.38%. The firm's quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. On average, sell-side analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock worth $126,000 after acquiring an additional 206 shares during the last quarter. Blue Trust Inc. raised its holdings in New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after purchasing an additional 775 shares during the period. ABS Direct Equity Fund LLC lifted its position in New Oriental Education & Technology Group by 17.5% during the third quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company's stock valued at $561,000 after purchasing an additional 1,100 shares in the last quarter. Hancock Whitney Corp grew its holdings in New Oriental Education & Technology Group by 49.4% during the third quarter. Hancock Whitney Corp now owns 4,075 shares of the company's stock valued at $309,000 after purchasing an additional 1,348 shares during the period. Finally, Janus Henderson Group PLC increased its position in New Oriental Education & Technology Group by 11.9% in the third quarter. Janus Henderson Group PLC now owns 30,895 shares of the company's stock worth $2,342,000 after buying an additional 3,287 shares in the last quarter.

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.