New Oriental Education & Tech Grp (EDU) Shares Gap Down to $87.60

Shares of New Oriental Education & Tech Grp (NYSE:EDU) gapped down before the market opened on Wednesday . The stock had previously closed at $90.31, but opened at $87.60. New Oriental Education & Tech Grp shares last traded at $86.85, with a volume of 1349509 shares.

A number of equities analysts have recently issued reports on EDU shares. CLSA lowered shares of New Oriental Education & Tech Grp from an “outperform” rating to an “underperform” rating in a research report on Tuesday, October 24th. Jefferies Group reiterated a “buy” rating and set a $109.00 target price on shares of New Oriental Education & Tech Grp in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Deutsche Bank started coverage on shares of New Oriental Education & Tech Grp in a research report on Thursday, January 4th. They set a “buy” rating and a $116.00 target price on the stock. Finally, Benchmark upped their target price on shares of New Oriental Education & Tech Grp from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $98.95.

The firm has a market cap of $13,813.42, a price-to-earnings ratio of 48.40, a price-to-earnings-growth ratio of 1.44 and a beta of 1.38.

New Oriental Education & Tech Grp (NYSE:EDU) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). New Oriental Education & Tech Grp had a net margin of 13.92% and a return on equity of 16.19%. The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $456.93 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis. sell-side analysts predict that New Oriental Education & Tech Grp will post 1.91 earnings per share for the current year.

Several hedge funds have recently modified their holdings of EDU. PNC Financial Services Group Inc. increased its position in shares of New Oriental Education & Tech Grp by 2.4% during the second quarter. PNC Financial Services Group Inc. now owns 1,513 shares of the company’s stock worth $107,000 after acquiring an additional 35 shares in the last quarter. Advisor Group Inc. grew its position in New Oriental Education & Tech Grp by 182.5% in the second quarter. Advisor Group Inc. now owns 1,743 shares of the company’s stock valued at $123,000 after purchasing an additional 1,126 shares in the last quarter. Dimensional Fund Advisors LP grew its position in New Oriental Education & Tech Grp by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 352,215 shares of the company’s stock valued at $24,830,000 after purchasing an additional 34,057 shares in the last quarter. Voya Investment Management LLC grew its position in New Oriental Education & Tech Grp by 12.3% in the second quarter. Voya Investment Management LLC now owns 19,079 shares of the company’s stock valued at $1,345,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in New Oriental Education & Tech Grp by 24.5% in the second quarter. Macquarie Group Ltd. now owns 16,048 shares of the company’s stock valued at $1,132,000 after acquiring an additional 3,153 shares during the last quarter. 76.67% of the stock is owned by institutional investors.

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New Oriental Education & Tech Grp Company Profile

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

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