New Oriental Education & Technology Group, Inc. (NYSE:EDU) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $60.75.

A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. New Street Research set a $56.50 price objective on New Oriental Education & Technology Group in a research report on Thursday, July 30th. Finally, Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st.

New Oriental Education & Technology Group Trading Up 2.0%

Shares of NYSE:EDU opened at $55.06 on Tuesday. The business has a 50-day moving average price of $56.35 and a 200 day moving average price of $54.15. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.58 and a beta of 0.24. New Oriental Education & Technology Group has a 12-month low of $44.25 and a 12-month high of $64.97.

New Oriental Education & Technology Group Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Wednesday, November 18th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. New Oriental Education & Technology Group’s payout ratio is currently 36.25%.

Insiders Place Their Bets

In other news, Director Chenggang Zhou sold 56,948 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the sale, the director directly owned 429,998 shares of the company’s stock, valued at approximately $24,436,786.34. This represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $31,000 after buying an additional 279 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in New Oriental Education & Technology Group during the first quarter worth about $209,000. First Command Advisory Services Inc. raised its holdings in New Oriental Education & Technology Group by 190.6% during the third quarter. First Command Advisory Services Inc. now owns 3,749 shares of the company’s stock worth $208,000 after purchasing an additional 2,459 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in New Oriental Education & Technology Group by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company’s stock valued at $219,000 after purchasing an additional 500 shares during the period. Finally, Ethic Inc. acquired a new stake in New Oriental Education & Technology Group in the third quarter valued at about $231,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc (NYSE: EDU) is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.