New Oriental Education & Technology Group (NYSE:EDU) Downgraded to Neutral Rating by Citigroup

Citigroup lowered shares of New Oriental Education & Technology Group (NYSE:EDU - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat.com reports. They currently have $50.00 price target on the stock, down from their prior price target of $83.00.

EDU has been the topic of a number of other research reports. Morgan Stanley lowered New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $83.00 to $52.00 in a research note on Wednesday. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $85.00 to $50.00 in a research report on Wednesday. Macquarie downgraded New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and dropped their target price for the stock from $79.00 to $44.00 in a report on Wednesday. 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $61.20.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock traded down $0.04 during mid-day trading on Friday, hitting $46.71. 2,205,484 shares of the company's stock traded hands, compared to its average volume of 2,600,605. The firm has a 50 day simple moving average of $60.03 and a two-hundred day simple moving average of $64.70. New Oriental Education & Technology Group has a fifty-two week low of $44.46 and a fifty-two week high of $98.20. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 19.88 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted 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 analysts' expectations of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. New Oriental Education & Technology Group's quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. On average, research 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 have recently modified their holdings of the stock. Sei Investments Co. grew its stake in New Oriental Education & Technology Group by 6.5% during the second quarter. Sei Investments Co. now owns 190,302 shares of the company's stock worth $14,792,000 after buying an additional 11,622 shares in the last quarter. Millennium Management LLC boosted its position in shares of New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company's stock worth $56,880,000 after acquiring an additional 436,098 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in New Oriental Education & Technology Group by 3.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company's stock valued at $115,071,000 after acquiring an additional 56,100 shares during the last quarter. Blue Trust Inc. raised its position in New Oriental Education & Technology Group by 155.5% during the third quarter. Blue Trust Inc. now owns 2,052 shares of the company's stock valued at $160,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Carrhae Capital LLP lifted its stake in New Oriental Education & Technology Group by 30.5% during the third quarter. Carrhae Capital LLP now owns 684,187 shares of the company's stock worth $51,889,000 after purchasing an additional 159,848 shares during the last quarter.

New Oriental Education & Technology Group Company Profile

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.