Wells Fargo & Company MN Sells 285 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Wells Fargo & Company MN lowered its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,014 shares of the company’s stock after selling 285 shares during the period. Wells Fargo & Company MN’s holdings in New Oriental Education & Technology Group were worth $193,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EDU. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. bought a new position in New Oriental Education & Technology Group during the fourth quarter worth $51,000. Empowered Funds LLC acquired a new stake in New Oriental Education & Technology Group in the fourth quarter worth $138,000. Blue Trust Inc. increased its stake in New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at about $224,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on EDU shares. JPMorgan Chase & Co. dropped their price target on New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. China Renaissance cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. StockNews.com raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and an average target price of $60.80.

New Oriental Education & Technology Group Price Performance

NYSE EDU opened at $46.63 on Friday. The company has a fifty day moving average price of $46.98 and a 200-day moving average price of $53.84. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 19.84 and a beta of 0.25. New Oriental Education & Technology Group Inc. has a 1 year low of $40.66 and a 1 year high of $89.33.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current fiscal year.

About New Oriental Education & Technology Group

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, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.