Earnings Miss: New Oriental Education & Technology Group Inc. Missed EPS By 11% And Analysts Are Revising Their Forecasts
US stocks closed | PCE suspends inflation concerns, Google's performance soared more than 10% after that, and Nvidia rose more than 6%
The S&P Index rose 2.67% this week, and the NASDAQ rose 4.23%, all of which recorded the biggest weekly gain since November last year; the China General Index rose nearly 9% weekly, the biggest increase since July last year.
Express News | New Oriental Education Shares Are Trading Higher Amid Overall China Strength
Trending Stocks Today: Freight Technologies Shoots up 32.42% Pre-Market
April 26th - US stocks trending pre-market: Gainers: $Freight Technologies(FRGT.US)$ shoots up 32.42% to $1.21 with a turnover of $5.28 million. $Snap Inc(SNAP.US)$ soars 25.17% to $14.27 with a turno
New Oriental Education & Technology Group Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
[Broker Focus] Shen Wan Hongyuan maintains New Oriental (09901) purchase rating, indicating speeding up production capacity expansion and increasing profit measurement
Jinwu Financial News | According to Shen Wan Hongyuan Research Report, New Oriental (09901) announced results for the third quarter of FY24 (3QFY24, 2023.12-2024.2), with revenue of US$1.27 billion, up 60.1% year on year, and non-GAAP net profit of US$105 million, up 9.8% year on year. Revenue exceeded expectations, and its high growth continued to be driven by the literacy training business and study abroad business. According to the bank, because the company further increased the speed of network expansion, the company's operating profit margin remained flat year-on-year due to preemptive costs such as rent and hiring additional teachers. However, the bank believes that it has been reported in multiple quarters
Trending Industry Today: EAST BUY Leads Gains In Online Education Stocks
April 26th - The industry of $Online Education(BK1193.HK)$ is trending higher today with 5 constituents up and EAST BUY leading Gains.$EAST BUY(01797.HK)$ up 8.27% to HK$17.28 with a turnover of HK$32
[Broker Focus] Northeast Securities maintains the New Oriental-S (09901) “buy” rating, indicating that its advantages are prominent in the current supply and demand pattern
Jinwu Financial News | According to the Northeast Securities Research Report, New Oriental-S (09901) released Summary] FY2024Q3 Quarterly Report. From December 2023 to February 2024, the company achieved net revenue of US$1.27 billion/+60.1%, operating profit of US$113 million/ +70.6%, net profit to mother of US$87 million/ +6.8%, non-GAAP operating profit of US$141 million/ +60.3%, non-GAAP net profit of US$105 million/ +9.8%; the revenue side exceeded the previous period Guideline 10.71-10
BOC International: Maintaining the New Oriental-S (09901) “Buy” Rating and Lowering the Target Price to HK$89
The Zhitong Finance App learned that BOC International released a research report stating that the target price of the New Oriental-S (09901) was lowered to HK$89 without considering Oriental Selection (01797), corresponding to the price-earnings ratio of 33 and 27 times in FY2024/25 and 48% profit growth in FY2025, maintaining a “buy” rating. Due to increased investment in Oriental Selection, the Group's operating margin forecast was lowered from 14% and to 12.8%. The bank indicated that it raised revenue by 4% and 24% for the 2024/25 fiscal year, driven by Oriental Selection and the volume of cultural tourism revenue. After the quarterly results were released, the stock price closed down 14%, mainly due to profit
Changes in Hong Kong stocks | Oriental Selection (01797) rebounded more than 7%, and New Oriental increased its holdings by 1 million shares Goldman Sachs is optimistic that its gross operating margin improved in the fourth fiscal quarter
Oriental Selection (01797) rebounded by more than 7%, and fell by more than 10% yesterday. As of press release, it rose 7.27% to HK$17.12, with a turnover of HK$129 million.
New Oriental Education Is Maintained at Buy by Citigroup
New Oriental Education Is Maintained at Buy by Citigroup
Express News | Citigroup Maintains Buy on New Oriental Education, Raises Price Target to $127
New Oriental Education Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 04/25/2024 60.72% Citigroup $66 → $127 Maintains Buy 03/28/2024 20.22% Morgan Stanley $85 → $95 Maintains
Oriental Selection (01797.HK) received 1 million additional shares from New Oriental
Glonghui, April 26 | According to the Stock Exchange's latest equity disclosure data, on April 24, 2024, Oriental Selection (01797.HK) received New Oriental Education & Technology Group Inc. increased its holdings by 1 million shares at an average price of HK$17.3879 per share on the market, involving approximately HK$17.3879 million. After the increase in holdings, the latest number of shares held by New Oriental Education & Technology Group Inc. is 587,538
Overnight news: Weak GDP and high prices highlight the Fed's plight, Alphabet's earnings exceed expectations, and the ECB Governing Council warns that interest rate cuts are needed
For more global financial information, please go to the 7×24 hour real-time financial news market closing: US stocks closed down, the Dow fell more than 370 points, Meta earnings report and GDP data put pressure on the stock index. Top 20 of the US stock turnover on April 25: Meta stock price fell more than 10%. Its capital expenditure guidelines raised concerns that US oil closed higher on Thursday and fell once after the GDP data was released. Popular Chinese securities rose 3.5%, Pinduoduo fell 1.4%, and the German DAX30 index fell 0.89%, and the macroscopic weak GDP Higher prices highlight the US
Express News | New Oriental Education Shares Are Trading Higher as the Stock Rebounds Following Wednesday's Drop
Hong Kong stocks closed (04.25) | Hang Seng Index closed up 0.48%, domestic housing stocks showed strong performance and fell more than 12% after New Oriental-S (09901) results
The Zhitong Finance App learned that the three major indices of Hong Kong stocks had mixed ups and downs. The Hang Seng Index rebounded for four consecutive trading days. After opening slightly lower in early trading, it quickly rose and turned red. The intraday high was 17,434 points to a new high during the new year, then the increase narrowed, showing a volatile adjustment trend. At the close, the Hang Seng Index rose 0.48% or 83.27 points to 17,284.54 points, with a full-day turnover of HK$119.12 billion; the Hang Seng State-owned Enterprises Index rose 0.33% to 6120.37 points; and the Hang Seng Technology Index fell 0.54% to 3554.3 points. CCB International previously indicated that as the Hang Seng Index stabilized its previous low in late January (20
Trending Industry Today: NEW ORIENTAL-S Leads Losses In Online Education Stocks
April 25th - The industry of $Online Education(BK1193.HK)$ is trending lower today with 1 constituents up, 4 constituents down and NEW ORIENTAL-S leading Losses.$NEW ORIENTAL-S(09901.HK)$ drops 16.57%
Education stocks are weak, New Oriental (09901) falls 17.91%. Institutions say K12 education and training market concentration is low, and various regions have launched “double reduction” special actions one after another
Jinwu Financial News | The performance of education stocks was weak. New Oriental (09901) fell 17.91% after the results, Chuanglian Holdings (02371) fell 16.67%, Excellent Education Group (03978) fell 7.69%, Thinking Music Education (01769) fell 6.01%, and Guangzheng Education (06068) fell 1.67%. Cinda Securities said that the overall K12 education and training market concentration is low. In terms of measuring market space and revenue of leading companies, CR3 was only 7.0% in '23, and the pattern is relatively scattered; after experiencing significant clean-up on the supply side, leading companies are expected to rely on brand power and retain outlets
[Broker Focus] BOC International cuts new Oriental (09901) target price to HK$89 and is expected to increase revenue by 38% in the fourth quarter or operating profit margin to 6%
Jinwu Financial News | According to the BOC International Development Research Report, New Oriental (09901)'s revenue for the 3rd quarter of fiscal year 2024 was 1.2 billion US dollars, an increase of 60% year-on-year. Compared with the bank/Bloomberg's agreed growth rate of 44%/47%, it was mainly driven by the growth of the new education business and Oriental Selection's own operation. The adjusted operating profit was US$140 million, and the operating profit margin was 12%, the same as the previous year; the adjusted net profit was US$105 million, lower than the bank's agreed expectations of US$120 million. The net interest rate was 8.7%, compared with 13% in the same period last year, mainly hampered by Oriental Selection Expansion, supply chain construction, and discounts on proprietary products. The trip is expected to be in 4 seasons
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