New Oriental Education & Technology Group, Inc. (EDU) Announces Special Dividend of $0.45

New Oriental Education & Technology Group, Inc. (NYSE:EDU) announced a special dividend on Tuesday, July 25th, RTT News reports. Stockholders of record on Wednesday, September 6th will be given a dividend of 0.45 per share on Friday, October 6th. The ex-dividend date of this dividend is Friday, September 1st. This is a boost from New Oriental Education & Technology Group’s previous special dividend of $0.40.

New Oriental Education & Technology Group (NYSE EDU) traded up 1.07% during mid-day trading on Friday, reaching $80.05. 860,767 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $78.38 and a 200-day moving average of $65.97. New Oriental Education & Technology Group has a 12 month low of $37.16 and a 12 month high of $83.91. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 46.01 and a beta of 1.40.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.03. New Oriental Education & Technology Group had a net margin of 15.25% and a return on equity of 17.02%. The company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $477.81 million. During the same quarter in the prior year, the company posted $0.29 EPS. New Oriental Education & Technology Group’s revenue was up 23.2% on a year-over-year basis. Analysts anticipate that New Oriental Education & Technology Group will post $2.37 earnings per share for the current year.

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EDU has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a report on Tuesday, May 16th. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $74.80 price objective on shares of New Oriental Education & Technology Group in a report on Tuesday, April 25th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $62.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, May 17th. Finally, UBS AG began coverage on shares of New Oriental Education & Technology Group in a report on Tuesday, August 1st. They set a “buy” rating and a $96.75 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. New Oriental Education & Technology Group currently has a consensus rating of “Buy” and an average price target of $76.36.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

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