Barclays PLC Reduces Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Barclays PLC reduced its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 99.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,121 shares of the company’s stock after selling 112,259 shares during the quarter. Barclays PLC’s holdings in New Oriental Education & Technology Group were worth $85,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EDU. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 purchasing an additional 206 shares during the period. ABS Direct Equity Fund LLC boosted 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 during the last quarter. Blue Trust Inc. increased its stake in shares of New Oriental Education & Technology Group by 155.5% in the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock worth $160,000 after acquiring an additional 1,249 shares during the period. Hancock Whitney Corp raised its holdings in shares of New Oriental Education & Technology Group by 49.4% during the third quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock worth $309,000 after purchasing an additional 1,348 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in New Oriental Education & Technology Group by 11.9% during the third quarter. Janus Henderson Group PLC now owns 30,895 shares of the company’s stock valued at $2,342,000 after purchasing an additional 3,287 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EDU shares. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their target price for the company from $79.00 to $44.00 in a research note on Wednesday. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $50.00 in a research report on Friday. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $50.00 in a report on Wednesday. Finally, 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Trading Down 0.1 %

Shares of NYSE:EDU opened at $46.71 on Friday. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.88 and a beta of 0.44. The business has a 50-day moving average price of $60.03 and a 200 day moving average price of $64.70. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The company’s revenue was up 30.5% on a year-over-year basis. As a group, equities research analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Profile

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.