New Oriental Education & Technology Group (NYSE:EDU) Shares Down 5%

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report)'s stock price was down 5% during trading on Monday . The stock traded as low as $59.10 and last traded at $59.60. Approximately 559,404 shares changed hands during trading, a decline of 69% from the average daily volume of 1,798,676 shares. The stock had previously closed at $62.75.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EDU shares. Citigroup lowered their price target 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. HSBC initiated coverage on New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They issued a "buy" rating and a $110.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $103.67.

New Oriental Education & Technology Group Stock Performance

The company has a 50-day moving average of $66.18 and a 200-day moving average of $76.88. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 32.39 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.19). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. As a group, analysts expect that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current year.

New Oriental Education & Technology Group Dividend Announcement

The company also recently declared a -- dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, September 9th.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of EDU. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth about $733,000. Goldman Sachs Group Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 37.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company's stock valued at $173,997,000 after purchasing an additional 646,122 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of New Oriental Education & Technology Group by 23.3% during the 1st quarter. Russell Investments Group Ltd. now owns 267,516 shares of the company's stock valued at $23,226,000 after buying an additional 50,635 shares during the period. Point72 Hong Kong Ltd grew its stake in shares of New Oriental Education & Technology Group by 81.7% during the 4th quarter. Point72 Hong Kong Ltd now owns 771,798 shares of the company's stock valued at $56,557,000 after buying an additional 346,956 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth $1,220,000.

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.