The New Oriental Education & Technology Group Inc. (EDU) Given Average Recommendation of “Buy” by Brokerages

The New Oriental Education & Technology Group Inc. (EDU) Given Average Recommendation of “Buy” by Brokerages

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) have received an average recommendation of “Buy” from the thirteen analysts that are presently covering the stock. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $39.11.

A number of equities research analysts have recently weighed in on the company. T.H. Capital lifted their target price on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Jefferies Group reissued a “buy” rating and set a $50.00 target price on shares of New Oriental Education & Technology Group in a report on Friday, July 8th. Zacks Investment Research downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. Brean Capital assumed coverage on New Oriental Education & Technology Group in a report on Thursday, July 21st. They set a “buy” rating and a $52.00 target price for the company. Finally, Daiwa Capital Markets assumed coverage on New Oriental Education & Technology Group in a report on Monday. They set a “buy” rating for the company.

Shares of New Oriental Education & Technology Group (NYSE:EDU) traded up 1.37% during midday trading on Wednesday, reaching $46.53. 321,131 shares of the company’s stock were exchanged. The company’s 50 day moving average is $44.66 and its 200-day moving average is $41.47. The stock has a market cap of $7.33 billion, a PE ratio of 32.54 and a beta of 1.60. New Oriental Education & Technology Group has a 12 month low of $21.73 and a 12 month high of $48.41.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its stake in New Oriental Education & Technology Group by 56.7% in the third quarter. Creative Planning now owns 2,956 shares of the company’s stock valued at $137,000 after buying an additional 1,069 shares during the period. Huntington National Bank purchased a new stake in New Oriental Education & Technology Group during the second quarter valued at $171,000. Daiwa SB Investments Ltd. purchased a new stake in New Oriental Education & Technology Group during the third quarter valued at $185,000. Invictus RG boosted its stake in New Oriental Education & Technology Group by 52.5% in the first quarter. Invictus RG now owns 5,525 shares of the company’s stock valued at $191,000 after buying an additional 1,903 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in New Oriental Education & Technology Group during the second quarter valued at $198,000. 80.60% of the stock is owned by hedge funds and other institutional investors.

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