New Oriental Education & Technology Group (NYSE:EDU) Upgraded to “Overweight” by JPMorgan Chase & Co.
New Oriental Education & Technology Group (NYSE:EDU - Get Rating) was upgraded by research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued on Monday, The Fly reports.
Several other brokerages also recently weighed in on EDU. UBS Group upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating in a research note on Monday, June 6th. StockNews.com upgraded New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Monday, May 2nd. CLSA upgraded New Oriental Education & Technology Group from an "underperform" rating to an "outperform" rating in a research note on Wednesday, April 27th. Finally, Daiwa Capital Markets upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 9th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group has an average rating of "Hold" and an average target price of $87.00.
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NYSE EDU traded up $0.89 during trading hours on Monday, hitting $17.10. The company had a trading volume of 320,192 shares, compared to its average volume of 3,895,576. New Oriental Education & Technology Group has a fifty-two week low of $8.40 and a fifty-two week high of $99.05. The firm's 50 day moving average is $11.93 and its 200 day moving average is $14.81.
New Oriental Education & Technology Group (NYSE:EDU - Get Rating) last announced its earnings results on Tuesday, April 26th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($1.44). The firm had revenue of $614.09 million during the quarter, compared to the consensus estimate of $642.75 million. On average, sell-side analysts forecast that New Oriental Education & Technology Group will post 1.79 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in New Oriental Education & Technology Group by 2.4% in the first quarter. BlackRock Inc. now owns 64,329,110 shares of the company's stock worth $73,977,000 after acquiring an additional 1,492,990 shares during the last quarter. Morgan Stanley raised its holdings in shares of New Oriental Education & Technology Group by 196.3% during the third quarter. Morgan Stanley now owns 54,714,708 shares of the company's stock valued at $112,165,000 after buying an additional 36,248,561 shares during the last quarter. Carmignac Gestion raised its holdings in shares of New Oriental Education & Technology Group by 187.6% during the first quarter. Carmignac Gestion now owns 43,110,546 shares of the company's stock valued at $49,647,000 after buying an additional 28,122,503 shares during the last quarter. Bank of America Corp DE raised its stake in New Oriental Education & Technology Group by 37.9% during the 4th quarter. Bank of America Corp DE now owns 41,241,407 shares of the company's stock valued at $86,606,000 after acquiring an additional 11,340,959 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in New Oriental Education & Technology Group by 130.8% during the 1st quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company's stock worth $43,114,000 after acquiring an additional 21,246,644 shares during the period.
New Oriental Education & Technology Group Company Profile (Get Rating)
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.
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