New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down to $71.35

New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped down before the market opened on Tuesday . The stock had previously closed at $71.35, but opened at $69.17. New Oriental Education & Technology Group shares last traded at $71.75, with a volume of 139,118 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on EDU. Citigroup lifted their target price on shares of New Oriental Education & Technology Group from $42.00 to $66.00 in a research note on Wednesday, September 27th. Morgan Stanley began coverage on shares of New Oriental Education & Technology Group in a research note on Tuesday, November 7th. They issued an “overweight” rating and a $81.00 target price for the company. TheStreet upgraded shares of New Oriental Education & Technology Group from a “d+” rating to a “c-” rating in a research note on Wednesday, July 26th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, UBS Group boosted their price objective on shares of New Oriental Education & Technology Group from $65.00 to $71.00 in a research note on Thursday, July 27th.

New Oriental Education & Technology Group Price Performance

The firm’s 50 day moving average is $62.23 and its 200 day moving average is $51.66. The company has a market cap of $12.16 billion, a PE ratio of 43.84 and a beta of 0.55.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.80 by $0.33. New Oriental Education & Technology Group had a net margin of 8.25% and a return on equity of 7.38%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. New Oriental Education & Technology Group’s revenue for the quarter was up 47.7% on a year-over-year basis. As a group, analysts anticipate that New Oriental Education & Technology Group Inc. will post 1.97 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently bought and sold shares of EDU. BlackRock Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 2.4% in 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. Renaissance Technologies LLC lifted its holdings in shares of New Oriental Education & Technology Group by 130.8% in the 1st quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock worth $43,114,000 after acquiring an additional 21,246,644 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of New Oriental Education & Technology Group by 11.4% in the 1st quarter. Wellington Management Group LLP now owns 9,078,131 shares of the company’s stock worth $10,441,000 after acquiring an additional 932,613 shares during the last quarter. FMR LLC lifted its holdings in shares of New Oriental Education & Technology Group by 92.7% in the 3rd quarter. FMR LLC now owns 6,631,500 shares of the company’s stock worth $388,274,000 after acquiring an additional 3,189,254 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of New Oriental Education & Technology Group by 48.9% in the 1st quarter. Bridgewater Associates LP now owns 6,201,032 shares of the company’s stock worth $7,131,000 after acquiring an additional 2,035,926 shares during the last quarter. 89.51% of the stock is currently owned by institutional investors.

New Oriental Education & Technology Group Company Profile

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 four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.