New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up to $77.19

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $77.19, but opened at $81.99. New Oriental Education & Technology Group shares last traded at $84.93, with a volume of 1,130,576 shares traded.

Analysts Set New Price Targets

Separately, 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. One equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.67.

New Oriental Education & Technology Group Stock Up 3.0 %

The firm’s fifty day moving average is $65.77 and its two-hundred day moving average is $76.11. The firm has a market cap of $13.50 billion, a P/E ratio of 42.76 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU) last announced its 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 the consensus estimate of $1.14 billion. As a group, sell-side 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 company also recently declared a — dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $0.58 dividend. The ex-dividend date of this dividend was Monday, September 9th.

Institutional Trading of New Oriental Education & Technology Group

Hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC purchased a new position in New Oriental Education & Technology Group during the second quarter valued at $43,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $50,000. Blue Trust Inc. boosted its stake in New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after purchasing an additional 712 shares in the last quarter. Hancock Whitney Corp purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at about $212,000. Finally, Yousif Capital Management LLC purchased a new stake in New Oriental Education & Technology Group during the 1st quarter valued at about $231,000.

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.