New Oriental Education & Technology Group’s (EDU) “Buy” Rating Reiterated at Jefferies Group LLC

Jefferies Group LLC reaffirmed their buy rating on shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) in a research note published on Thursday morning. They currently have a $109.00 price target on the stock.

A number of other research analysts have also commented on the company. J P Morgan Chase & Co lowered New Oriental Education & Technology Group from a neutral rating to an underweight rating and set a $82.00 price objective on the stock. in a research report on Thursday, September 14th. Morgan Stanley started coverage on New Oriental Education & Technology Group in a research report on Friday, August 25th. They issued an overweight rating and a $100.00 price objective on the stock. Zacks Investment Research upgraded New Oriental Education & Technology Group from a hold rating to a buy rating and set a $89.00 price objective on the stock in a research report on Tuesday, July 18th. Vetr lowered New Oriental Education & Technology Group from a buy rating to a hold rating and set a $94.84 price objective on the stock. in a research report on Tuesday, October 10th. Finally, UBS AG started coverage on New Oriental Education & Technology Group in a research report on Tuesday, August 1st. They issued a buy rating and a $96.75 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $89.76.

New Oriental Education & Technology Group (NYSE:EDU) traded up 3.15% during mid-day trading on Thursday, hitting $85.36. The stock had a trading volume of 3,233,936 shares. The stock has a 50 day moving average of $89.19 and a 200-day moving average of $77.94. New Oriental Education & Technology Group has a 1-year low of $37.16 and a 1-year high of $94.63. The firm has a market cap of $13.46 billion, a P/E ratio of 46.14 and a beta of 1.33.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.04). The firm had revenue of $661.20 million during the quarter, compared to the consensus estimate of $643.90 million. New Oriental Education & Technology Group had a net margin of 15.15% and a return on equity of 17.32%. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share. Analysts predict that New Oriental Education & Technology Group will post $2.32 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in shares of New Oriental Education & Technology Group by 0.6% in the 2nd quarter. Baillie Gifford & Co. now owns 8,264,923 shares of the company’s stock valued at $582,594,000 after purchasing an additional 47,119 shares during the period. BlackRock Inc. lifted its stake in shares of New Oriental Education & Technology Group by 5,434.7% in the 1st quarter. BlackRock Inc. now owns 6,286,645 shares of the company’s stock valued at $379,587,000 after purchasing an additional 6,173,060 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of New Oriental Education & Technology Group by 130.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,854,260 shares of the company’s stock valued at $342,177,000 after purchasing an additional 2,747,727 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of New Oriental Education & Technology Group by 633.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,377,489 shares of the company’s stock valued at $238,074,000 after purchasing an additional 2,917,183 shares during the period. Finally, Greenwoods Asset Management Ltd lifted its stake in shares of New Oriental Education & Technology Group by 39.8% in the 2nd quarter. Greenwoods Asset Management Ltd now owns 2,845,660 shares of the company’s stock valued at $200,591,000 after purchasing an additional 809,660 shares during the period. 75.59% of the stock is currently owned by institutional investors.

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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