New Oriental Education & Technology Group (NYSE:EDU) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a hold rating to a buy rating in a report released on Monday morning.

A number of other brokerages also recently commented on EDU. China Renaissance downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Finally, Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $50.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.80.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock opened at $47.71 on Monday. The firm’s 50-day simple moving average is $46.96 and its 200-day simple moving average is $53.99. New Oriental Education & Technology Group has a 1-year low of $40.66 and a 1-year high of $89.33. The firm has a market cap of $8.10 billion, a P/E ratio of 20.30 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts expect that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Institutional investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new position in shares of New Oriental Education & Technology Group in the 1st quarter worth approximately $315,000. Massachusetts Financial Services Co. MA increased its position in New Oriental Education & Technology Group by 65.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 46,791 shares of the company’s stock valued at $2,237,000 after acquiring an additional 18,579 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of New Oriental Education & Technology Group by 62.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,000 shares of the company’s stock worth $601,000 after acquiring an additional 5,000 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the first quarter valued at approximately $344,000. Finally, KBC Group NV bought a new position in New Oriental Education & Technology Group in the 1st quarter worth approximately $192,000.

About New Oriental Education & Technology Group

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.