New Oriental Education & Technology Group (NYSE:EDU) Upgraded at StockNews.com

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

A number of other brokerages have also weighed in on EDU. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a report on Thursday, October 17th. Citigroup reduced their price target on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.67.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU opened at $60.75 on Thursday. The stock has a market capitalization of $10.31 billion, a PE ratio of 32.66 and a beta of 0.47. New Oriental Education & Technology Group has a fifty-two week low of $58.60 and a fifty-two week high of $98.20. The company has a fifty day moving average of $66.87 and a two-hundred day moving average of $74.03.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company posted $0.99 EPS. New Oriental Education & Technology Group’s quarterly revenue was up 30.5% compared to the same quarter last year. Research analysts forecast that New Oriental Education & Technology Group will post 2.83 earnings per share for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds have recently modified their holdings of EDU. DekaBank Deutsche Girozentrale acquired a new position in New Oriental Education & Technology Group in the third quarter valued at about $629,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of New Oriental Education & Technology Group by 341.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,788 shares of the company’s stock worth $2,250,000 after purchasing an additional 23,046 shares in the last quarter. Carrhae Capital LLP grew its holdings in shares of New Oriental Education & Technology Group by 30.5% in the third quarter. Carrhae Capital LLP now owns 684,187 shares of the company’s stock valued at $51,889,000 after purchasing an additional 159,848 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of New Oriental Education & Technology Group by 155.5% in the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in New Oriental Education & Technology Group by 3.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company’s stock worth $115,071,000 after buying an additional 56,100 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.