New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report)'s share price was down 3.4% during mid-day trading on Friday . The stock traded as low as $60.10 and last traded at $60.42. Approximately 128,145 shares traded hands during trading, a decline of 93% from the average daily volume of 1,852,048 shares. The stock had previously closed at $62.53.
Analysts Set New Price Targets
EDU has been the subject of several recent research reports. StockNews.com raised New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th.
Read Our Latest Report on EDU
New Oriental Education & Technology Group Stock Down 2.4 %
The company has a market cap of $10.36 billion, a price-to-earnings ratio of 26.08 and a beta of 0.46. The business has a 50-day simple moving average of $63.30 and a two-hundred day simple moving average of $68.36.
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. As a group, 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
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of New Oriental Education & Technology Group during the second quarter worth approximately $43,000. Ashton Thomas Private Wealth LLC bought a new stake in New Oriental Education & Technology Group in the 2nd quarter valued at $50,000. Blue Trust Inc. boosted its holdings in New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company's stock valued at $62,000 after purchasing an additional 712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 worth $126,000 after purchasing an additional 206 shares during the last quarter. Finally, Hancock Whitney Corp bought a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $212,000.
About New Oriental Education & Technology Group
(
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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.
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