PNC Financial Services Group Inc. Lowers Stock Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

PNC Financial Services Group Inc. lowered its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,406 shares of the company’s stock after selling 284 shares during the quarter. PNC Financial Services Group Inc.’s holdings in New Oriental Education & Technology Group were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EDU. O Shaughnessy Asset Management LLC purchased a new position in New Oriental Education & Technology Group during the third quarter worth approximately $1,154,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of New Oriental Education & Technology Group in the third quarter valued at approximately $5,486,000. Lazard Asset Management LLC lifted its position in shares of New Oriental Education & Technology Group by 2.5% in the third quarter. Lazard Asset Management LLC now owns 79,073 shares of the company’s stock valued at $4,629,000 after acquiring an additional 1,896 shares in the last quarter. KADENSA CAPITAL Ltd lifted its position in shares of New Oriental Education & Technology Group by 35.3% in the third quarter. KADENSA CAPITAL Ltd now owns 101,764 shares of the company’s stock valued at $5,958,000 after acquiring an additional 26,524 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position 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 valued at $239,730,000 after acquiring an additional 760,062 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of New Oriental Education & Technology Group stock opened at $79.00 on Tuesday. New Oriental Education & Technology Group Inc. has a one year low of $39.08 and a one year high of $98.20. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 42.47 and a beta of 0.44. The business’s 50 day moving average price is $79.67 and its 200 day moving average price is $82.15.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.09 billion. On average, analysts predict that New Oriental Education & Technology Group Inc. will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EDU shares. Citigroup raised their target price on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. HSBC started coverage on New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Morgan Stanley raised their target price 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.75.

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.