New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down to $89.59

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $89.59, but opened at $84.54. New Oriental Education & Technology Group shares last traded at $73.90, with a volume of 3,153,898 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EDU shares. Morgan Stanley lifted their price target on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Citigroup boosted their target price on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a report on Thursday. Finally, StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.67.

New Oriental Education & Technology Group Stock Performance

The stock has a 50-day moving average of $89.48 and a two-hundred day moving average of $78.82. The company has a market cap of $13.52 billion, a P/E ratio of 43.77 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.23). New Oriental Education & Technology Group had a net margin of 8.54% and a return on equity of 7.97%. The company had revenue of $869.60 million for the quarter, compared to the consensus estimate of $814.01 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. New Oriental Education & Technology Group’s revenue was up 36.3% compared to the same quarter last year. Research analysts predict that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FMR LLC increased its position in shares of New Oriental Education & Technology Group by 92.7% during the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock valued at $388,274,000 after acquiring an additional 3,189,254 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of New Oriental Education & Technology Group by 22.8% in the third quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock worth $239,730,000 after purchasing an additional 760,062 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 37.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock valued at $173,997,000 after purchasing an additional 646,122 shares in the last quarter. WT Asset Management Ltd boosted its position in shares of New Oriental Education & Technology Group by 48.9% during the third quarter. WT Asset Management Ltd now owns 1,899,128 shares of the company’s stock valued at $111,194,000 after buying an additional 623,435 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased 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 worth $117,892,000 after buying an additional 942,392 shares in the last quarter.

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.