StockNews.com Downgrades New Oriental Education & Technology Group (NYSE:EDU) to Sell

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

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

New Oriental Education & Technology Group Stock Down 6.1 %

Shares of NYSE:EDU opened at $69.63 on Monday. The stock has a market cap of $11.82 billion, a PE ratio of 37.44 and a beta of 0.47. The company’s fifty day moving average is $67.42 and its 200 day moving average is $75.01. New Oriental Education & Technology Group has a 52 week low of $58.45 and a 52 week high of $98.20.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). The business 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%. Sell-side analysts anticipate that New Oriental Education & Technology Group will post 2.83 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently added to or reduced their stakes in the company. Farallon Capital Management LLC raised 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 valued at $114,231,000 after purchasing an additional 854,590 shares in the last quarter. Russell Investments Group Ltd. boosted its position in New Oriental Education & Technology Group by 23.3% in the 1st quarter. Russell Investments Group Ltd. now owns 267,516 shares of the company’s stock worth $23,226,000 after purchasing an additional 50,635 shares in the last quarter. Virtu Financial LLC acquired a new stake in New Oriental Education & Technology Group in the first quarter valued at approximately $1,220,000. Matthews International Capital Management LLC lifted its position in shares of New Oriental Education & Technology Group by 101.7% in the first quarter. Matthews International Capital Management LLC now owns 94,905 shares of the company’s stock valued at $8,240,000 after acquiring an additional 47,862 shares in the last quarter. Finally, Swedbank AB acquired a new stake in New Oriental Education & Technology Group in the 1st quarter valued at about $6,171,000.

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.