New Oriental Education & Technology Group (NYSE:EDU) Trading Down 5%

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) were down 5% during trading on Monday . The stock traded as low as $59.10 and last traded at $59.60. Approximately 559,404 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,798,676 shares. The stock had previously closed at $62.75.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EDU. HSBC initiated coverage on shares of New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They set a “buy” rating and a $110.00 target price for the company. Citigroup decreased their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.67.

New Oriental Education & Technology Group Stock Down 4.1 %

The firm’s 50-day moving average price is $66.46 and its 200-day moving average price is $77.10. The company has a market cap of $10.21 billion, a P/E ratio of 32.31 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. As a group, analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current year.

New Oriental Education & Technology Group Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a dividend of $0.58 per share. The ex-dividend date is Monday, September 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Jump Financial LLC bought a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $235,000. Panagora Asset Management Inc. purchased a new position in New Oriental Education & Technology Group in the 4th quarter worth approximately $240,000. Assetmark Inc. increased its holdings in shares of New Oriental Education & Technology Group by 1,642.9% in the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after buying an additional 575 shares during the last quarter. US Bancorp DE raised its position in shares of New Oriental Education & Technology Group by 23.0% during the 4th quarter. US Bancorp DE now owns 11,379 shares of the company’s stock valued at $834,000 after buying an additional 2,126 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in New Oriental Education & Technology Group by 3.4% in the fourth quarter. Hsbc Holdings PLC now owns 96,437 shares of the company’s stock worth $7,113,000 after acquiring an additional 3,197 shares in the last quarter.

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.