Price T Rowe Associates Inc. MD increased its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,894,541 shares of the company's stock after acquiring an additional 1,480,391 shares during the period. Price T Rowe Associates Inc. MD owned 2.29% of New Oriental Education & Technology Group worth $249,952,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in EDU. GeoWealth Management LLC grew its holdings in New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after buying an additional 318 shares during the last quarter. Westpac Banking Corp acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at approximately $51,000. Natixis grew its holdings in New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after buying an additional 248 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at approximately $138,000.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on EDU shares. China Renaissance lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. StockNews.com downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group has a consensus rating of "Hold" and a consensus target price of $60.80.
Check Out Our Latest Research Report on EDU
New Oriental Education & Technology Group Price Performance
Shares of New Oriental Education & Technology Group stock traded up $0.18 during midday trading on Monday, hitting $46.98. 675,657 shares of the company were exchanged, compared to its average volume of 1,855,390. The firm has a market cap of $7.97 billion, a P/E ratio of 19.99 and a beta of 0.37. New Oriental Education & Technology Group Inc. has a 52 week low of $40.66 and a 52 week high of $89.33. The firm has a 50 day simple moving average of $47.00 and a 200-day simple moving average of $54.81.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. Equities research analysts expect that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.
About New Oriental Education & Technology Group
(
Free Report)
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.
Featured Stories
Before you consider New Oriental Education & Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Oriental Education & Technology Group wasn't on the list.
While New Oriental Education & Technology Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
