New Oriental Education & Technology Group (NYSE:EDU) Cut to D at TheStreet

TheStreet downgraded shares of New Oriental Education & Technology Group (NYSE:EDUGet Rating) from a c- rating to a d rating in a report issued on Monday morning, TheStreetRatingsTable reports.

Other analysts have also issued research reports about the stock. Macquarie upgraded shares of New Oriental Education & Technology Group from a neutral rating to an outperform rating in a research note on Thursday, July 28th. Bank of America upgraded shares of New Oriental Education & Technology Group from a neutral rating to a buy rating and lifted their price objective for the company from $18.80 to $36.60 in a research note on Friday, July 29th. Finally, StockNews.com started coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 12th. They issued a hold rating for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of Moderate Buy and a consensus target price of $36.60.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $26.01 on Monday. New Oriental Education & Technology Group has a 52-week low of $8.40 and a 52-week high of $29.89. The firm has a 50 day moving average price of $24.90 and a two-hundred day moving average price of $22.32.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.17. The firm had revenue of $744.80 million for the quarter, compared to the consensus estimate of $689.08 million. The business’s revenue for the quarter was down 43.1% on a year-over-year basis. Equities analysts expect that New Oriental Education & Technology Group will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Hedge funds have recently bought and sold shares of the business. Eaton Vance Management boosted its holdings in New Oriental Education & Technology Group by 306.7% during the 1st quarter. Eaton Vance Management now owns 22,543 shares of the company’s stock worth $26,000 after acquiring an additional 17,000 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $42,000. Royal Bank of Canada boosted its holdings in shares of New Oriental Education & Technology Group by 13.6% in the 1st quarter. Royal Bank of Canada now owns 44,215 shares of the company’s stock worth $51,000 after buying an additional 5,299 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of New Oriental Education & Technology Group by 18.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 47,823 shares of the company’s stock worth $55,000 after buying an additional 7,300 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of New Oriental Education & Technology Group by 45.6% in the 3rd quarter. Signaturefd LLC now owns 2,933 shares of the company’s stock worth $70,000 after buying an additional 918 shares during the last quarter. Institutional investors and hedge funds own 45.81% of the company’s stock.

About New Oriental Education & Technology Group

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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 Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.

Further Reading

Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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