Brokerages Set New Oriental Education & Technology Group Inc. (NYSE:EDU) Target Price at $72.40

New Oriental Education & Technology Group Inc. (NYSE:EDU) has been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $61.20.

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $83.00 to $52.00 in a report on Wednesday. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $50.00 in a report on Wednesday. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $50.00 in a research note on Friday. Finally, Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their target price for the company from $79.00 to $44.00 in a research note on Wednesday.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors have recently added to or reduced their stakes in the business. Aspex Management HK Ltd increased its holdings in shares of New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after acquiring an additional 1,513,640 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in New Oriental Education & Technology Group by 23.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,823,200 shares of the company’s stock valued at $138,271,000 after purchasing an additional 342,800 shares in the last quarter. Farallon Capital Management LLC raised its holdings in shares of New Oriental Education & Technology Group by 139.0% in the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares during the last quarter. Point72 Hong Kong Ltd lifted its stake in shares of New Oriental Education & Technology Group by 16.6% during the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock worth $107,283,000 after buying an additional 196,133 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of New Oriental Education & Technology Group by 20,215.2% during 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 buying an additional 989,536 shares during the last quarter.

New Oriental Education & Technology Group Stock Down 0.1 %

Shares of NYSE:EDU opened at $46.71 on Wednesday. The business’s 50 day moving average is $60.03 and its 200 day moving average is $64.70. The stock has a market cap of $7.93 billion, a P/E ratio of 19.88 and a beta of 0.44. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. On average, sell-side analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

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.