New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) was downgraded by research analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $52.00 target price on the stock, down from their previous target price of $83.00. Morgan Stanley's price target suggests a potential upside of 12.52% from the stock's previous close.
EDU has been the topic of several other reports. StockNews.com raised shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $85.00 to $50.00 in a research report on Wednesday. Finally, Macquarie cut New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their target price for the stock from $79.00 to $44.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $72.40.
Get Our Latest Research Report on EDU
New Oriental Education & Technology Group Trading Down 1.1 %
NYSE:EDU traded down $0.50 during mid-day trading on Wednesday, hitting $46.22. The company's stock had a trading volume of 5,539,036 shares, compared to its average volume of 2,378,132. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 19.75 and a beta of 0.44. The stock has a fifty day moving average of $60.57 and a 200-day moving average of $65.19. New Oriental Education & Technology Group has a fifty-two week low of $44.46 and a fifty-two week high of $98.20.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company's revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted $0.99 earnings per share. On average, equities analysts anticipate that New Oriental Education & Technology Group will post 2.94 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of EDU. Aspex Management HK Ltd grew its position in shares of New Oriental Education & Technology Group by 46.7% in the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company's stock valued at $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 boosted its stake in shares of New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company's stock valued at $75,418,000 after buying an additional 989,536 shares during the period. JPMorgan Chase & Co. lifted its stake in New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock worth $62,703,000 after purchasing an additional 543,810 shares during the last quarter. Millennium Management LLC lifted its stake in New Oriental Education & Technology Group by 147.5% during the second quarter. Millennium Management LLC now owns 731,758 shares of the company's stock worth $56,880,000 after purchasing an additional 436,098 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in New Oriental Education & Technology Group during the third quarter worth $27,425,000.
About New Oriental Education & Technology Group
(
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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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