Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $69.76, but opened at $68.11. New Oriental Education & Technology Group shares last traded at $68.07, with a volume of 174,137 shares changing hands.
Analysts Set New Price Targets
Several research firms have recently issued reports on EDU. StockNews.com downgraded New Oriental Education & Technology Group from a "hold" rating to a "sell" rating in a research note on Monday, October 14th. Citigroup reduced their price target on shares of 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, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research report on Thursday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of "Moderate Buy" and an average target price of $99.67.
View Our Latest Research Report on EDU
New Oriental Education & Technology Group Stock Down 2.6 %
The business's fifty day moving average price is $67.48 and its 200 day moving average price is $74.63. The firm has a market capitalization of $11.53 billion, a PE ratio of 36.52 and a beta of 0.47.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.19). New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current fiscal year.
New Oriental Education & Technology Group Dividend Announcement
The firm also recently declared a -- dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $0.58 dividend. The ex-dividend date was Monday, September 9th.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of EDU. Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $43,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at $50,000. Blue Trust Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company's stock valued at $62,000 after acquiring an additional 712 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $212,000. Finally, Yousif Capital Management LLC purchased a new stake in New Oriental Education & Technology Group during the 1st quarter worth $231,000.
New Oriental Education & Technology Group Company Profile
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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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