New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – What’s Next?

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped up before the market opened on Thursday . The stock had previously closed at $46.13, but opened at $47.75. New Oriental Education & Technology Group shares last traded at $47.02, with a volume of 988,806 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $79.00 to $44.00 in a research report on Wednesday. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $50.00 in a research report on Wednesday. Finally, Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $83.00 to $52.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.40.

New Oriental Education & Technology Group Stock Up 1.5 %

The firm has a market cap of $7.94 billion, a P/E ratio of 19.92 and a beta of 0.44. The business has a fifty day moving average of $60.38 and a 200 day moving average of $65.06.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.38% and a net margin of 8.13%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business earned $0.99 EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of large investors have recently modified their holdings of EDU. Sei Investments Co. boosted its holdings in shares of New Oriental Education & Technology Group by 6.5% in the 2nd quarter. Sei Investments Co. now owns 190,302 shares of the company’s stock valued at $14,792,000 after purchasing an additional 11,622 shares in the last quarter. Hancock Whitney Corp acquired a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at $212,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at approximately $15,274,000. Point72 Asset Management L.P. grew its holdings in shares of New Oriental Education & Technology Group by 26.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 686,400 shares of the company’s stock valued at $53,354,000 after purchasing an additional 145,200 shares during the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in shares of New Oriental Education & Technology Group by 16.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock valued at $107,283,000 after purchasing an additional 196,133 shares during the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.