New Oriental Education & Technology Group (NYSE:EDU) Shares Down 5%

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price traded down 5% on Monday . The company traded as low as $59.10 and last traded at $59.60. 559,404 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,798,676 shares. The stock had previously closed at $62.75.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup reduced their price target on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. HSBC assumed coverage on shares of New Oriental Education & Technology Group in a report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.67.

New Oriental Education & Technology Group Stock Down 4.1 %

The firm has a market capitalization of $10.21 billion, a PE ratio of 32.31 and a beta of 0.46. The company’s fifty day simple moving average is $66.46 and its 200 day simple moving average is $77.10.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.19). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. Equities research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current year.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a $0.58 dividend. The ex-dividend date is Monday, September 9th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Claro Advisors LLC increased its position in New Oriental Education & Technology Group by 5.3% during the 1st quarter. Claro Advisors LLC now owns 3,797 shares of the company’s stock valued at $330,000 after buying an additional 191 shares in the last quarter. Beverly Hills Private Wealth LLC raised its position in shares of New Oriental Education & Technology Group by 5.7% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock worth $326,000 after purchasing an additional 227 shares during the last quarter. Profund Advisors LLC boosted its stake in New Oriental Education & Technology Group by 1.4% in the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock worth $1,344,000 after purchasing an additional 231 shares in the last quarter. QRG Capital Management Inc. grew its position in New Oriental Education & Technology Group by 7.4% during the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock valued at $285,000 after purchasing an additional 254 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at about $43,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.