New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives $65.84 Consensus Target Price from Brokerages

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $65.84.

Several research firms recently weighed in on EDU. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. New Street Research set a $68.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, January 28th. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, China Renaissance raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $54.67 on Thursday. New Oriental Education & Technology Group has a fifty-two week low of $40.66 and a fifty-two week high of $64.97. The stock has a market cap of $8.64 billion, a P/E ratio of 23.17, a PEG ratio of 0.93 and a beta of 0.27. The firm’s fifty day moving average price is $57.99 and its 200-day moving average price is $54.70.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts predict that New Oriental Education & Technology Group will post 2.75 earnings per share for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several large investors have recently made changes to their positions in the business. Bessemer Group Inc. purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $37,000. Hantz Financial Services Inc. boosted its holdings in New Oriental Education & Technology Group by 738.0% in the second quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock worth $49,000 after acquiring an additional 797 shares in the last quarter. Carrhae Capital LLP purchased a new stake in shares of New Oriental Education & Technology Group in the second quarter worth $18,717,000. Fox Run Management L.L.C. purchased a new stake in shares of New Oriental Education & Technology Group in the second quarter worth $538,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of New Oriental Education & Technology Group during the second quarter valued at $621,000.

New Oriental Education & Technology Group Company Profile

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.