New Oriental Education & Technology Group Inc. (NYSE:EDU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “New Oriental is the largest provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of English and other foreign language training, test preparation courses for major admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education. New Oriental’s ADSs, each of which represents four common shares, currently trade on the New York Stock Exchange under the symbol ”EDU.” “

Several other equities research analysts have also recently issued reports on the company. T.H. Capital raised their price objective on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Jefferies Group restated a “buy” rating and set a $50.00 price objective on shares of New Oriental Education & Technology Group in a report on Friday, July 8th. Brean Capital restated a “buy” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, August 2nd. Finally, Nomura raised their price objective on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $41.27.

New Oriental Education & Technology Group (NYSE:EDU) opened at 46.56 on Friday. The company’s 50-day moving average price is $42.86 and its 200 day moving average price is $40.01. New Oriental Education & Technology Group has a 1-year low of $18.22 and a 1-year high of $48.41. The firm has a market capitalization of $7.31 billion, a PE ratio of 32.56 and a beta of 1.80.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, July 20th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $394.90 million for the quarter, compared to analysts’ expectations of $389.98 million. New Oriental Education & Technology Group had a return on equity of 16.90% and a net margin of 15.21%. New Oriental Education & Technology Group’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, equities analysts anticipate that New Oriental Education & Technology Group will post $1.80 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tobam bought a new position in New Oriental Education & Technology Group during the second quarter valued at approximately $3,409,000. Sanctuary Wealth Advisors LLC acquired a new stake in shares of New Oriental Education & Technology Group during the second quarter valued at $3,352,000. Royal Bank of Canada increased its stake in shares of New Oriental Education & Technology Group by 186.0% in the second quarter. Royal Bank of Canada now owns 14,082 shares of the company’s stock valued at $590,000 after buying an additional 9,159 shares in the last quarter. Legal & General Group Plc increased its stake in shares of New Oriental Education & Technology Group by 140.4% in the second quarter. Legal & General Group Plc now owns 273,763 shares of the company’s stock valued at $11,465,000 after buying an additional 159,863 shares in the last quarter. Finally, Numeric Investors LLC increased its stake in shares of New Oriental Education & Technology Group by 398.1% in the second quarter. Numeric Investors LLC now owns 491,584 shares of the company’s stock valued at $20,588,000 after buying an additional 392,884 shares in the last quarter. 80.60% of the stock is currently owned by institutional investors.

New Oriental Education & Technology Group 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 offers a range of educational programs, services and products, consisting primarily of English and other foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.

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