New Oriental Education & Technology Group (NYSE:EDU) Sees Unusually-High Trading Volume - Should You Buy?

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) saw strong trading volume on Wednesday . 1,418,332 shares changed hands during trading, a decline of 25% from the previous session's volume of 1,881,367 shares.The stock last traded at $62.02 and had previously closed at $67.13.

Analysts Set New Price Targets

Several analysts recently weighed in on EDU shares. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a report on Thursday, October 17th. Citigroup reduced their price target on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Finally, StockNews.com downgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "sell" rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.67.

New Oriental Education & Technology Group Price Performance

The firm's fifty day simple moving average is $67.40 and its 200 day simple moving average is $74.38. The company has a market capitalization of $10.43 billion, a PE ratio of 33.05 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.19). The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.14 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. On average, equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The company also recently disclosed a -- dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, September 9th.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $43,000. Ashton Thomas Private Wealth LLC acquired a new stake in New Oriental Education & Technology Group during the second quarter worth $50,000. Blue Trust Inc. raised its position in New Oriental Education & Technology Group by 782.4% in the second 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. Hancock Whitney Corp acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at $212,000. Finally, QRG Capital Management Inc. grew its holdings in shares of New Oriental Education & Technology Group by 7.4% during the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock worth $285,000 after purchasing an additional 254 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.