Prudential Financial Inc. Lowers Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)
Prudential Financial Inc. cut its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Rating) by 12.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 315,220 shares of the company's stock after selling 44,570 shares during the period. Prudential Financial Inc. owned 0.19% of New Oriental Education & Technology Group worth $7,556,000 as of its most recent SEC filing.
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Several other institutional investors also recently made changes to their positions in EDU. Eaton Vance Management boosted its position 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 worth $26,000 after purchasing an additional 17,000 shares during the period. Quadrant Capital Group LLC purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter worth $42,000. Royal Bank of Canada boosted its position 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 worth $51,000 after purchasing an additional 5,299 shares during the period. James Investment Research Inc. purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter worth $76,000. Finally, Vontobel Holding Ltd. boosted its position in New Oriental Education & Technology Group by 34.7% during the 1st quarter. Vontobel Holding Ltd. now owns 89,235 shares of the company's stock worth $103,000 after purchasing an additional 22,996 shares during the period. 67.55% of the stock is owned by hedge funds and other institutional investors.
New Oriental Education & Technology Group Trading Up 1.2 %
NYSE:EDU opened at $42.64 on Wednesday. New Oriental Education & Technology Group Inc. has a 1 year low of $8.40 and a 1 year high of $46.63. The firm's fifty day simple moving average is $36.25 and its 200 day simple moving average is $29.16. The firm has a market capitalization of $7.25 billion, a PE ratio of -94.75 and a beta of 0.51.
New Oriental Education & Technology Group (NYSE:EDU - Get Rating) last posted its quarterly earnings results 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 analyst estimates of $614.16 million. New Oriental Education & Technology Group had a negative return on equity of 6.32% and a negative net margin of 9.72%. The business's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. As a group, analysts anticipate that New Oriental Education & Technology Group Inc. will post 0.68 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on EDU. TheStreet cut shares of New Oriental Education & Technology Group from a "c-" rating to a "d" rating in a research report on Monday, November 21st. StockNews.com initiated coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 12th. They set a "hold" rating on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.60.
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; Online Education and Other Services; Overseas Study Consulting Services; and Others.
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