New Oriental Education & Technology Group (NYSE:EDU) Shares Up 10%

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares shot up 10% during trading on Monday . The company traded as high as $81.51 and last traded at $80.85. 1,291,046 shares were traded during trading, a decline of 30% from the average session volume of 1,845,229 shares. The stock had previously closed at $73.47.

Analyst Ratings Changes

Separately, Citigroup decreased their price target on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Stock Performance

The company’s 50-day simple moving average is $65.78 and its 200 day simple moving average is $76.24. The company has a market cap of $12.90 billion, a PE ratio of 41.07 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, July 31st. The company reported $0.10 EPS 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current year.

New Oriental Education & Technology Group Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a $0.58 dividend. The ex-dividend date was Monday, September 9th.

Institutional Investors Weigh In On New Oriental Education & Technology Group

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

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.