New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – Here’s Why

New Oriental Education & Technology Group, Inc. (NYSE:EDU) gapped up prior to trading on Tuesday . The stock had previously closed at $49.05, but opened at $51.98. New Oriental Education & Technology Group shares last traded at $54.20, with a volume of 908,706 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EDU shares. Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $48.00 to $62.00 in a research note on Tuesday. Finally, China Renaissance lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.00.

New Oriental Education & Technology Group Trading Up 13.5%

The company’s fifty day moving average price is $47.30 and its two-hundred day moving average price is $50.94. The firm has a market cap of $9.44 billion, a P/E ratio of 23.41 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.06). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.91% and a net margin of 8.17%. New Oriental Education & Technology Group’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. On average, analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Large investors have recently bought and sold shares of the business. Aspex Management HK Ltd raised its position in New Oriental Education & Technology Group by 56.8% in the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock valued at $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. First Beijing Investment Ltd increased its stake in shares of New Oriental Education & Technology Group by 1,997.8% in the first quarter. First Beijing Investment Ltd now owns 5,456,378 shares of the company’s stock valued at $260,869,000 after buying an additional 5,196,281 shares in the last quarter. FMR LLC raised its holdings in shares of New Oriental Education & Technology Group by 46.3% in the fourth quarter. FMR LLC now owns 4,539,678 shares of the company’s stock valued at $291,357,000 after buying an additional 1,437,656 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of New Oriental Education & Technology Group by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock valued at $249,952,000 after buying an additional 1,480,391 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in New Oriental Education & Technology Group by 17.2% during the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company’s stock worth $193,815,000 after buying an additional 442,656 shares in the last quarter.

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.