New Oriental Education & Technology Group (NYSE:EDU) Rating Lowered to “Underperform” at Macquarie

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by Macquarie from an “outperform” rating to an “underperform” rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a $44.00 price objective on the stock, down from their previous price objective of $79.00. Macquarie’s price target suggests a potential downside of 5.96% from the company’s previous close.

A number of other equities research analysts also recently issued reports on EDU. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $50.00 in a research report on Wednesday. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group has a consensus rating of “Hold” and an average price target of $72.40.

New Oriental Education & Technology Group Stock Up 1.4 %

New Oriental Education & Technology Group stock opened at $46.79 on Wednesday. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $98.20. The company has a market cap of $7.94 billion, a P/E ratio of 19.91 and a beta of 0.44. The business has a 50-day simple moving average of $60.22 and a two-hundred day simple moving average of $64.93.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.38%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. Research analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of New Oriental Education & Technology Group by 14.2% in 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. Blue Trust Inc. boosted its stake in New Oriental Education & Technology Group by 155.5% in the 3rd quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock worth $160,000 after purchasing an additional 1,249 shares during the period. Hancock Whitney Corp purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at approximately $212,000. SG Americas Securities LLC bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $272,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of New Oriental Education & Technology Group in the third quarter worth $297,000.

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.