Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU – Get Free Report) saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings. 1,418,332 shares were traded during mid-day 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.
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 analysts’ expectations of $1.45 billion. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share.
New Oriental Education & Technology Group Announces Dividend
The firm also recently announced a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, September 9th.
Analysts Set New Price Targets
Check Out Our Latest Report on New Oriental Education & Technology Group
Institutional Trading of New Oriental Education & Technology Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new position in shares of New Oriental Education & Technology Group in the third quarter worth $629,000. Mirae Asset Global Investments Co. Ltd. raised its stake in New Oriental Education & Technology Group by 341.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,788 shares of the company’s stock worth $2,250,000 after acquiring an additional 23,046 shares during the last quarter. Carrhae Capital LLP lifted its position in New Oriental Education & Technology Group by 30.5% during the 3rd quarter. Carrhae Capital LLP now owns 684,187 shares of the company’s stock worth $51,889,000 after acquiring an additional 159,848 shares during the period. Blue Trust Inc. grew its stake in New Oriental Education & Technology Group by 155.5% during the 3rd quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of New Oriental Education & Technology Group by 3.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company’s stock worth $115,071,000 after purchasing an additional 56,100 shares during the last quarter.
New Oriental Education & Technology Group Price Performance
The stock has a fifty day moving average of $67.08 and a 200 day moving average of $74.20. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 32.89 and a beta of 0.47.
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.
See Also
- Five stocks we like better than New Oriental Education & Technology Group
- What is a buyback in stocks? A comprehensive guide for investors
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- How to Invest in the FAANG Stocks
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- The Downtrend in UPS Stock Isn’t Over Yet
Receive News & Ratings for New Oriental Education & Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.