New Oriental Education & Technology Group (NYSE:EDU) Hits New 52-Week High at $44.94

New Oriental Education & Technology Group Inc. (NYSE:EDU – Get Rating) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.94 and last traded at $44.87, with a volume of 51277 shares. The stock had previously closed at $40.77.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EDU. StockNews.com began coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet cut shares of New Oriental Education & Technology Group from a “c-” rating to a “d” rating in a report on Monday, November 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.60.

New Oriental Education & Technology Group Trading Down 1.1 %

The stock’s fifty day simple moving average is $33.87 and its 200 day simple moving average is $28.02.

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last announced its earnings results on Tuesday, January 17th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.12). The business had revenue of $638.20 million for the quarter, compared to analyst estimates of $614.16 million. During the same period in the prior year, the company posted $1.00 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts predict that New Oriental Education & Technology Group Inc. will post 0.7 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds have recently modified their holdings of EDU. JPMorgan Chase & Co. boosted its position in shares of New Oriental Education & Technology Group by 22.4% in the first quarter. JPMorgan Chase & Co. now owns 3,182,422 shares of the company’s stock worth $3,659,000 after purchasing an additional 582,351 shares during the period. Bank of New York Mellon Corp boosted its position in shares of New Oriental Education & Technology Group by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 1,739,685 shares of the company’s stock worth $2,000,000 after purchasing an additional 158,968 shares during the period. American Century Companies Inc. boosted its position in shares of New Oriental Education & Technology Group by 1.0% in the first quarter. American Century Companies Inc. now owns 483,904 shares of the company’s stock worth $556,000 after purchasing an additional 4,888 shares during the period. Acadian Asset Management LLC boosted its position in shares of New Oriental Education & Technology Group by 186.1% in the first quarter. Acadian Asset Management LLC now owns 193,107 shares of the company’s stock worth $221,000 after purchasing an additional 125,599 shares during the period. Finally, BlackRock Inc. boosted 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 purchasing an additional 1,492,990 shares during the period. 67.55% of the stock is currently owned by institutional investors.

New Oriental Education & Technology Group Company Profile

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New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.