New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down to $65.00

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $65.00, but opened at $62.86. New Oriental Education & Technology Group shares last traded at $62.19, with a volume of 146,258 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently commented on EDU. 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 target price for the company. Citigroup lowered their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research note 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 MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Moderate Buy” and an average target price of $103.67.

New Oriental Education & Technology Group Trading Down 3.2 %

The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 33.49 and a beta of 0.46. The firm’s 50 day simple moving average is $66.00 and its two-hundred day simple moving average is $76.71.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data 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). New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. As a group, equities research analysts anticipate 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 firm also recently declared a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, September 9th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EDU. Renaissance Technologies LLC boosted its holdings in shares of New Oriental Education & Technology Group by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,175,554 shares of the company’s stock valued at $246,836,000 after acquiring an additional 164,600 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of New Oriental Education & Technology Group by 37.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock valued at $173,997,000 after buying an additional 646,122 shares during the period. WT Asset Management Ltd increased its stake in shares of New Oriental Education & Technology Group by 21.4% in the second quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock valued at $134,533,000 after buying an additional 304,712 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in New Oriental Education & Technology Group by 141.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock valued at $117,892,000 after buying an additional 942,392 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its position in New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares during the period.

New Oriental Education & Technology Group Company Profile

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.