New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down - What's Next?

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $61.03, but opened at $58.69. New Oriental Education & Technology Group shares last traded at $59.90, with a volume of 141,515 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EDU. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th. 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.

New Oriental Education & Technology Group Stock Performance

The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 25.54 and a beta of 0.46. The business's 50 day moving average is $63.30 and its 200 day moving average is $68.25.

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 analysts' consensus estimates 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 return on equity of 9.43% and a net margin of 8.38%. The firm's quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently bought and sold shares of EDU. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after acquiring an additional 206 shares during the last quarter. Beverly Hills Private Wealth LLC grew its position in New Oriental Education & Technology Group by 5.7% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company's stock worth $326,000 after purchasing an additional 227 shares during the period. Profund Advisors LLC grew its position in New Oriental Education & Technology Group by 1.4% during the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company's stock worth $1,344,000 after purchasing an additional 231 shares during the period. Ridgewood Investments LLC acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $43,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $50,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.