Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU – Get Rating) have been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.60.
A number of research firms have recently weighed in on EDU. Macquarie raised New Oriental Education & Technology Group from a "neutral" rating to an "outperform" rating in a research note on Thursday, July 28th. Bank of America raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $18.80 to $36.60 in a research report on Friday, July 29th. JPMorgan Chase & Co. raised New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating in a research report on Monday, June 13th. UBS Group raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating in a research report on Monday, June 6th. Finally, CICC Research raised New Oriental Education & Technology Group from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 14th.
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New Oriental Education & Technology Group Trading Down 5.1 %
EDU opened at $24.40 on Monday. The stock has a 50-day moving average price of $25.38 and a 200-day moving average price of $17.92. New Oriental Education & Technology Group has a 12-month low of $8.40 and a 12-month high of $29.80.
New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.97). The firm had revenue of $524.00 million during the quarter, compared to analysts' expectations of $544.92 million. New Oriental Education & Technology Group's revenue was down 56.7% compared to the same quarter last year. On average, research analysts anticipate that New Oriental Education & Technology Group will post 0.33 earnings per share for the current fiscal year.
New Oriental Education & Technology Group announced that its board has authorized a stock repurchase program on Wednesday, July 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.
Institutional Trading of New Oriental Education & Technology Group
Several institutional investors have recently added to or reduced their stakes in EDU. Eaton Vance Management boosted its stake in New Oriental Education & Technology Group by 306.7% during the 1st quarter. Eaton Vance Management now owns 22,543 shares of the company's stock valued at $26,000 after purchasing an additional 17,000 shares during the last quarter. Icapital Wealth LLC purchased a new stake in New Oriental Education & Technology Group during the 4th quarter valued at $35,000. Quadrant Capital Group LLC purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at $42,000. Royal Bank of Canada boosted its stake in New Oriental Education & Technology Group by 13.6% during the 1st quarter. Royal Bank of Canada now owns 44,215 shares of the company's stock valued at $51,000 after purchasing an additional 5,299 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in New Oriental Education & Technology Group by 18.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 47,823 shares of the company's stock valued at $55,000 after purchasing an additional 7,300 shares during the last quarter. 45.81% of the stock is currently owned by hedge funds and other institutional investors.
New Oriental Education & Technology Group Company Profile
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New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.
Further Reading
- Get a free copy of the StockNews.com research report on New Oriental Education & Technology Group (EDU)
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