Brokerages Set New Oriental Education & Technology Group, Inc. (NYSE:EDU) PT at $65.84

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been assigned an average rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $65.84.

A number of brokerages recently commented on EDU. JPMorgan Chase & Co. upped their target price on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. New Street Research set a $68.00 target price on shares of New Oriental Education & Technology Group in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $60.00 price objective on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 29th.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $62.75 on Friday. The company’s fifty day moving average price is $56.35 and its 200-day moving average price is $53.33. New Oriental Education & Technology Group has a 1-year low of $40.66 and a 1-year high of $64.97. The firm has a market capitalization of $9.92 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.07 and a beta of 0.27.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, research analysts anticipate that New Oriental Education & Technology Group will post 2.75 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after buying an additional 512 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $37,000. Hantz Financial Services Inc. increased its stake in shares of New Oriental Education & Technology Group by 738.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after purchasing an additional 797 shares in the last quarter. Raymond James Financial Inc. acquired a new position in New Oriental Education & Technology Group in the 2nd quarter worth about $111,000. Finally, Leonteq Securities AG purchased a new position in New Oriental Education & Technology Group during the fourth quarter worth approximately $155,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.