New Oriental Education & Technology Group (NYSE:EDU) Trading 6.9% Higher

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price shot up 6.9% on Tuesday . The stock traded as high as $64.45 and last traded at $64.41. 1,398,344 shares were traded during mid-day trading, a decline of 23% from the average session volume of 1,811,930 shares. The stock had previously closed at $60.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EDU shares. HSBC assumed coverage on New Oriental Education & Technology Group in a report on Wednesday, May 29th. They issued a “buy” rating and a $110.00 price target for the company. Citigroup lowered 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.67.

New Oriental Education & Technology Group Stock Performance

The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 34.63 and a beta of 0.46. The business has a 50-day moving average of $66.18 and a 200-day moving average of $76.88.

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

New Oriental Education & Technology Group Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Jump Financial LLC purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $235,000. Assetmark Inc. boosted its position in New Oriental Education & Technology Group by 1,642.9% in the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000 after buying an additional 575 shares during the period. US Bancorp DE boosted its position in New Oriental Education & Technology Group by 23.0% in the 4th quarter. US Bancorp DE now owns 11,379 shares of the company’s stock valued at $834,000 after buying an additional 2,126 shares during the period. Hsbc Holdings PLC grew its stake in shares of New Oriental Education & Technology Group by 3.4% in the fourth quarter. Hsbc Holdings PLC now owns 96,437 shares of the company’s stock worth $7,113,000 after acquiring an additional 3,197 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $26,287,000.

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.