New Oriental Education & Technology Group (NYSE:EDU) Stock Price Down 2.8% – What’s Next?

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price was down 2.8% during mid-day trading on Friday . The stock traded as low as $57.65 and last traded at $57.84. Approximately 82,683 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,844,221 shares. The stock had previously closed at $59.52.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th. Citigroup lowered their target price 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 note on Friday, August 2nd. Finally, StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

New Oriental Education & Technology Group Trading Down 2.6 %

The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 25.44 and a beta of 0.49. The firm has a 50-day simple moving average of $65.23 and a two-hundred day simple moving average of $69.95.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The business’s revenue was up 30.5% compared to the same quarter last year. Equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

Institutional Trading of New Oriental Education & Technology Group

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after acquiring an additional 206 shares during the period. Beverly Hills Private Wealth LLC raised its stake in New Oriental Education & Technology Group by 5.7% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock valued at $326,000 after purchasing an additional 227 shares during the last quarter. Profund Advisors LLC raised its holdings in New Oriental Education & Technology Group by 1.4% in the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock valued at $1,344,000 after acquiring an additional 231 shares during the last quarter. QRG Capital Management Inc. grew its holdings in New Oriental Education & Technology Group by 7.4% in the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock valued at $285,000 after purchasing an additional 254 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth $43,000.

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.