New Oriental Education & Technology Group Inc. (NYSE:EDU) Receives Consensus Rating of “Moderate Buy” from Analysts
Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Rating) have received a consensus rating of "Moderate Buy" from the nine analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $36.60.
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Several equities research analysts recently issued reports on the company. StockNews.com started coverage on New Oriental Education & Technology Group in a research note on Wednesday, October 12th. They issued a "hold" rating for the company. TheStreet downgraded New Oriental Education & Technology Group from a "c-" rating to a "d" rating in a research note on Monday, November 21st.
New Oriental Education & Technology Group Stock Down 1.1 %
Shares of NYSE EDU opened at $44.19 on Friday. The business has a fifty day simple moving average of $33.87 and a 200-day simple moving average of $28.06. New Oriental Education & Technology Group has a 12 month low of $8.40 and a 12 month high of $46.63.
New Oriental Education & Technology Group (NYSE:EDU - Get Rating) last announced its quarterly earnings data on Tuesday, January 17th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.12). The company had revenue of $638.20 million during the quarter, compared to analysts' expectations of $614.16 million. The company's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. Equities research analysts forecast that New Oriental Education & Technology Group will post 0.7 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in EDU. JPMorgan Chase & Co. increased its holdings in shares of New Oriental Education & Technology Group by 22.4% during the 1st quarter. JPMorgan Chase & Co. now owns 3,182,422 shares of the company's stock valued at $3,659,000 after acquiring an additional 582,351 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in New Oriental Education & Technology Group by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,739,685 shares of the company's stock valued at $2,000,000 after buying an additional 158,968 shares during the last quarter. American Century Companies Inc. grew its holdings in New Oriental Education & Technology Group by 1.0% in the 1st quarter. American Century Companies Inc. now owns 483,904 shares of the company's stock valued at $556,000 after buying an additional 4,888 shares during the last quarter. Acadian Asset Management LLC grew its holdings in New Oriental Education & Technology Group by 186.1% in the 1st quarter. Acadian Asset Management LLC now owns 193,107 shares of the company's stock valued at $221,000 after buying an additional 125,599 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in New Oriental Education & Technology Group by 2.4% in the 1st quarter. BlackRock Inc. now owns 64,329,110 shares of the company's stock valued at $73,977,000 after buying an additional 1,492,990 shares during the last quarter. Institutional investors and hedge funds own 67.55% of the company's stock.
About New Oriental Education & Technology Group
New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.
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