Jefferies Group Comments on New Oriental Education & Technology Group Inc.’s FY2018 Earnings (EDU)

Jefferies Group Comments on New Oriental Education & Technology Group Inc.’s FY2018 Earnings (EDU)

New Oriental Education & Technology Group Inc. (NYSE:EDU) – Investment analysts at Jefferies Group boosted their FY2018 earnings estimates for New Oriental Education & Technology Group in a research note issued on Friday. Jefferies Group analyst J. Wong now forecasts that the brokerage will post earnings per share of $2.31 for the year, up from their prior estimate of $2.15.

A number of other equities research analysts have also commented on EDU. Brean Capital started coverage on New Oriental Education & Technology Group in a research report on Thursday, July 21st. They issued a “buy” rating and a $52.00 price target for the company. Nomura increased their price target on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, July 21st. T.H. Capital increased their price target on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Zacks Investment Research raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, July 22nd. Finally, Daiwa Capital Markets initiated coverage on New Oriental Education & Technology Group in a research note on Monday, October 10th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.80.

New Oriental Education & Technology Group (NYSE:EDU) opened at 50.51 on Monday. New Oriental Education & Technology Group has a 1-year low of $27.40 and a 1-year high of $53.38. The company has a 50-day moving average price of $48.37 and a 200-day moving average price of $43.56. The firm has a market cap of $7.95 billion, a P/E ratio of 33.61 and a beta of 1.32.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Tuesday, October 25th. The company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.09. New Oriental Education & Technology Group had a return on equity of 16.87% and a net margin of 15.28%. The firm had revenue of $534.10 million for the quarter, compared to analyst estimates of $521.77 million. During the same period in the prior year, the business posted $0.84 EPS. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in shares of 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 in the last quarter. PNC Financial Services Group Inc. increased its position in shares of New Oriental Education & Technology Group by 40.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,237 shares of the company’s stock valued at $149,000 after buying an additional 926 shares in the last quarter. Huntington National Bank bought a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $171,000. Daiwa SB Investments Ltd. bought a new position in shares of New Oriental Education & Technology Group during the third quarter valued at approximately $185,000. Finally, Panagora Asset Management Inc. bought a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $198,000. Institutional investors own 83.99% of the company’s stock.

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