New Oriental Education & Technology Group (NYSE:EDU) Stock Price Down 2.8% - Here's What Happened

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) traded down 2.8% during trading on Friday . The company traded as low as $57.65 and last traded at $57.84. 82,683 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,844,221 shares. The stock had previously closed at $59.52.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a research report on Thursday, October 17th. Citigroup dropped their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Finally, 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.

New Oriental Education & Technology Group Price Performance

The company has a fifty day simple moving average of $65.14 and a two-hundred day simple moving average of $69.75. The company has a market capitalization of $9.90 billion, a P/E ratio of 24.92 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.27. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate 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 revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. Equities analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EDU. Swedbank AB acquired a new stake in New Oriental Education & Technology Group in the 1st quarter valued at approximately $6,171,000. Atria Investments Inc bought a new position in New Oriental Education & Technology Group during the first quarter worth $1,006,000. DekaBank Deutsche Girozentrale raised its stake in New Oriental Education & Technology Group by 130.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,000 shares of the company's stock valued at $1,109,000 after purchasing an additional 7,350 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in New Oriental Education & Technology Group by 7.4% in the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock valued at $285,000 after purchasing an additional 254 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in New Oriental Education & Technology Group by 314.3% in the 2nd quarter. SG Americas Securities LLC now owns 45,411 shares of the company's stock valued at $3,530,000 after purchasing an additional 34,451 shares during the period.

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.