New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Lowered by JPMorgan Chase & Co.

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $50.00 price target on the stock, down from their prior price target of $85.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.86% from the stock’s current price.

EDU has been the topic of a number of other reports. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $72.40.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $46.79 on Wednesday. The stock has a market capitalization of $7.94 billion, a PE ratio of 19.91 and a beta of 0.44. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $98.20. The business’s fifty day moving average price is $60.22 and its 200-day moving average price is $64.93.

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

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares in the last quarter. SG Americas Securities LLC purchased a new position in New Oriental Education & Technology Group during the fourth quarter worth about $272,000. Ariose Capital Management Ltd bought a new position in New Oriental Education & Technology Group in the 4th quarter worth about $5,955,000. JPMorgan Chase & Co. increased its stake in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after acquiring an additional 543,810 shares during the last quarter. Finally, ABS Direct Equity Fund LLC raised its holdings in shares of New Oriental Education & Technology Group by 17.5% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock valued at $561,000 after acquiring an additional 1,100 shares in 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.