New Oriental Education & Technology Group (NYSE:EDU) Rating Lowered to “Equal Weight” at Morgan Stanley

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $52.00 price objective on the stock, down from their previous price objective of $83.00. Morgan Stanley’s price objective indicates a potential upside of 11.13% from the stock’s previous close.

EDU has been the subject of a number of other reports. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $50.00 in a research note on Wednesday. Finally, Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $79.00 to $44.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and a consensus target price of $72.40.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock opened at $46.79 on Wednesday. New Oriental Education & Technology Group has a 1 year low of $44.46 and a 1 year high of $98.20. The stock has a market cap of $7.94 billion, a PE ratio of 19.91 and a beta of 0.44. The firm has a fifty day moving average price of $60.22 and a 200 day moving average price of $64.93.

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 (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. The business had revenue of $1.44 billion during 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 company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, equities analysts expect that New Oriental Education & Technology Group will post 2.94 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EDU. Aspex Management HK Ltd increased its holdings in New Oriental Education & Technology Group by 46.7% in the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after acquiring an additional 1,513,640 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after purchasing an additional 989,536 shares during the period. JPMorgan Chase & Co. increased its stake in shares of New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after purchasing an additional 543,810 shares in the last quarter. Millennium Management LLC raised its position in shares of New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock worth $56,880,000 after purchasing an additional 436,098 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in New Oriental Education & Technology Group in the 3rd quarter valued at about $27,425,000.

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.