New Oriental Education & Technology Group (NYSE:EDU) Now Covered by StockNews.com

Stock analysts at StockNews.com began coverage on shares of New Oriental Education & Technology Group (NYSE:EDU – Get Rating) in a research report issued on Thursday. The brokerage set a “hold” rating on the stock.

Separately, TheStreet cut shares of New Oriental Education & Technology Group from a “c-” rating to a “d” rating in a research note on Monday, November 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

New Oriental Education & Technology Group Stock Performance

NYSE EDU opened at $36.73 on Thursday. The firm has a 50-day moving average of $41.31 and a 200-day moving average of $32.51. The stock has a market cap of $6.23 billion, a PE ratio of -81.62 and a beta of 0.61. New Oriental Education & Technology Group has a 52-week low of $9.29 and a 52-week high of $46.63.

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last posted its earnings results on Tuesday, January 17th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.12). The company had revenue of $638.20 million for the quarter, compared to analyst estimates of $614.16 million. New Oriental Education & Technology Group had a negative return on equity of 6.32% and a negative net margin of 9.72%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. As a group, analysts predict that New Oriental Education & Technology Group will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in New Oriental Education & Technology Group by 22.4% during the 1st quarter. JPMorgan Chase & Co. now owns 3,182,422 shares of the company’s stock worth $3,659,000 after acquiring an additional 582,351 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in New Oriental Education & Technology Group by 10.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,739,685 shares of the company’s stock worth $2,000,000 after acquiring an additional 158,968 shares during the last quarter. American Century Companies Inc. grew its holdings in New Oriental Education & Technology Group by 1.0% during the 1st quarter. American Century Companies Inc. now owns 483,904 shares of the company’s stock worth $556,000 after acquiring an additional 4,888 shares during the last quarter. Acadian Asset Management LLC grew its holdings in New Oriental Education & Technology Group by 186.1% during the 1st quarter. Acadian Asset Management LLC now owns 193,107 shares of the company’s stock worth $221,000 after acquiring an additional 125,599 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in New Oriental Education & Technology Group by 2.4% during the 1st 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 last quarter. 67.55% of the stock is currently owned by institutional investors and hedge funds.

New Oriental Education & Technology Group Company Profile

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New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others.