New Oriental Education & Technology Group (NYSE:EDU) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group (NYSE:EDU) from an overweight rating to a neutral rating in a research report released on Wednesday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $50.00 price target on the stock, down from their prior price target of $85.00.

A number of other equities research analysts have also weighed in on EDU. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Trading Down 0.1 %

NYSE:EDU opened at $46.71 on Wednesday. The stock’s 50 day simple moving average is $60.03 and its 200-day simple moving average is $64.70. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $98.20. The firm has a market cap of $7.93 billion, a P/E ratio of 19.88 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. New Oriental Education & Technology Group’s quarterly revenue was up 30.5% on a year-over-year basis. Research analysts forecast that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after buying an additional 775 shares in the last quarter. SG Americas Securities LLC purchased a new position in New Oriental Education & Technology Group during the 4th quarter valued at about $272,000. Ariose Capital Management Ltd acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth about $5,955,000. JPMorgan Chase & Co. lifted its holdings in shares of New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after purchasing an additional 543,810 shares in the last quarter. Finally, ABS Direct Equity Fund LLC grew its position in shares of New Oriental Education & Technology Group by 17.5% in the third quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock valued at $561,000 after purchasing an additional 1,100 shares during the last quarter.

New Oriental Education & Technology Group Company Profile

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.