The Daiwa Capital Markets Begins Coverage on New Oriental Education & Technology Group Inc. (EDU)

The Daiwa Capital Markets Begins Coverage on New Oriental Education & Technology Group Inc. (EDU)

Daiwa Capital Markets began coverage on shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) in a research report report published on Monday, The Fly reports. The firm issued a buy rating on the stock.

Several other research analysts also recently commented on EDU. Zacks Investment Research raised New Oriental Education & Technology Group from a hold rating to a buy rating and set a $46.00 price objective on the stock in a research note on Wednesday, June 22nd. Jefferies Group reaffirmed a buy rating and issued a $50.00 price objective on shares of New Oriental Education & Technology Group in a research note on Friday, July 8th. Brean Capital started coverage on New Oriental Education & Technology Group in a research note on Thursday, July 21st. They issued a buy rating and a $52.00 price objective on the stock. Nomura raised their price objective on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the stock a neutral rating in a research note on Thursday, July 21st. Finally, T.H. Capital raised their price objective on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a buy rating in a research note on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $41.27.

Shares of New Oriental Education & Technology Group (NYSE:EDU) opened at 46.63 on Monday. New Oriental Education & Technology Group has a 52-week low of $22.08 and a 52-week high of $48.41. The company has a market cap of $7.34 billion, a P/E ratio of 32.61 and a beta of 1.60. The company has a 50-day moving average price of $44.81 and a 200-day moving average price of $41.51.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. New Oriental Education & Technology Group had a return on equity of 16.90% and a net margin of 15.21%. The firm had revenue of $394.90 million for the quarter, compared to the consensus estimate of $389.98 million. During the same quarter last year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts predict that New Oriental Education & Technology Group will post $1.80 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC boosted its position in New Oriental Education & Technology Group by 77.1% in the first quarter. Aperio Group LLC now owns 61,672 shares of the company’s stock valued at $2,133,000 after buying an additional 26,854 shares in the last quarter. Virginia Retirement System bought a new position in shares of New Oriental Education & Technology Group during the first quarter worth approximately $297,000. Pacad Investment Ltd. bought a new position in shares of New Oriental Education & Technology Group during the first quarter worth approximately $301,000. BlackRock Group LTD boosted its position in shares of New Oriental Education & Technology Group by 2.4% in the first quarter. BlackRock Group LTD now owns 844,412 shares of the company’s stock worth $29,209,000 after buying an additional 19,907 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of New Oriental Education & Technology Group by 6.6% in the first quarter. BlackRock Fund Advisors now owns 894,548 shares of the company’s stock worth $30,942,000 after buying an additional 55,257 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company offers a range of educational programs, services and products, consisting primarily of English and other foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.

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