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

New Oriental Education & Technology Group Inc. (NYSE:EDUGet Rating) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $36.60.

A number of brokerages have recently weighed in on EDU. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating in a report on Monday, June 13th. UBS Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a report on Monday, June 6th. CICC Research raised shares of New Oriental Education & Technology Group from a “market perform” rating to an “outperform” rating in a report on Thursday, July 14th. Macquarie raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “outperform” rating in a report on Thursday, July 28th. Finally, Bank of America raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.80 to $36.60 in a report on Friday, July 29th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of New Oriental Education & Technology Group by 2.4% in the first quarter. BlackRock Inc. now owns 64,329,110 shares of the company’s stock worth $73,977,000 after acquiring an additional 1,492,990 shares during the period. Carmignac Gestion raised its position in shares of New Oriental Education & Technology Group by 187.6% during the 1st quarter. Carmignac Gestion now owns 43,110,546 shares of the company’s stock worth $49,647,000 after purchasing an additional 28,122,503 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of New Oriental Education & Technology Group by 130.8% during the 1st quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock worth $43,114,000 after purchasing an additional 21,246,644 shares during the last quarter. Shah Capital Management raised its position in shares of New Oriental Education & Technology Group by 170.1% during the 1st quarter. Shah Capital Management now owns 22,500,065 shares of the company’s stock worth $25,875,000 after purchasing an additional 14,171,000 shares during the last quarter. Finally, Point72 Hong Kong Ltd raised its position in shares of New Oriental Education & Technology Group by 3,555.9% during the 4th quarter. Point72 Hong Kong Ltd now owns 18,608,348 shares of the company’s stock worth $39,078,000 after purchasing an additional 18,099,348 shares during the last quarter. Institutional investors and hedge funds own 45.81% of the company’s stock.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $24.40 on Monday. New Oriental Education & Technology Group has a 1-year low of $8.40 and a 1-year high of $29.80. The company’s fifty day moving average price is $25.38 and its 200-day moving average price is $17.92.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.97). The firm had revenue of $524.00 million for the quarter, compared to analysts’ expectations of $544.92 million. The business’s revenue for the quarter was down 56.7% compared to the same quarter last year. As a group, equities research analysts predict that New Oriental Education & Technology Group will post 0.33 EPS for the current fiscal year.

New Oriental Education & Technology Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, July 27th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

New Oriental Education & Technology Group Company Profile

(Get Rating)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.

Further Reading

Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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