New Oriental Education & Technology Group (NYSE:EDU) Sets New 1-Year Low – Here’s Why

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares hit a new 52-week low on Wednesday . The stock traded as low as $56.17 and last traded at $56.22, with a volume of 478718 shares trading hands. The stock had previously closed at $58.11.

Analyst Ratings Changes

Several research analysts have weighed in on EDU shares. Citigroup cut their price target on 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. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

New Oriental Education & Technology Group Stock Performance

The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 23.99 and a beta of 0.49. The business’s fifty day simple moving average is $66.06 and its 200 day simple moving average is $71.88.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) 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 analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

New Oriental Education & Technology Group Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $0.58 dividend. The ex-dividend date was Monday, September 9th.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Beverly Hills Private Wealth LLC raised its stake in New Oriental Education & Technology Group by 5.7% during the second quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock worth $326,000 after acquiring an additional 227 shares during the period. Profund Advisors LLC raised its stake in New Oriental Education & Technology Group by 1.4% during the second quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock worth $1,344,000 after acquiring an additional 231 shares during the period. QRG Capital Management Inc. raised its stake in New Oriental Education & Technology Group by 7.4% during the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock worth $285,000 after acquiring an additional 254 shares during the period. Ridgewood Investments LLC acquired a new stake in New Oriental Education & Technology Group during the second quarter worth about $43,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in New Oriental Education & Technology Group during the second quarter worth about $50,000.

New Oriental Education & Technology Group Company Profile

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.