StockNews.com Begins Coverage on New Oriental Education & Technology Group (NYSE:EDU)

StockNews.com assumed coverage on shares of New Oriental Education & Technology Group (NYSE:EDU – Get Rating) in a research note published on Thursday morning. The firm issued a hold rating on the stock.

Separately, TheStreet cut New Oriental Education & Technology Group from a c- rating to a d rating in a report on Monday, November 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $36.60.

New Oriental Education & Technology Group Trading Down 4.4 %

Shares of EDU stock opened at $35.47 on Thursday. The stock has a 50-day moving average price of $41.27 and a 200 day moving average price of $32.65. New Oriental Education & Technology Group has a 12 month low of $9.29 and a 12 month high of $46.63.

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last announced its quarterly earnings data on Tuesday, January 17th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.12). The firm had revenue of $638.20 million during the quarter, compared to analyst estimates of $614.16 million. New Oriental Education & Technology Group had a negative return on equity of 6.32% and a negative net margin of 9.72%. New Oriental Education & Technology Group’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Equities analysts forecast that New Oriental Education & Technology Group will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in shares of New Oriental Education & Technology Group by 130.8% during the 1st quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock valued at $43,114,000 after purchasing an additional 21,246,644 shares in the last quarter. Baupost Group LLC MA bought a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $162,880,000. FengHe Fund Management Pte. Ltd. bought a new position in shares of New Oriental Education & Technology Group during the 3rd quarter valued at about $148,742,000. Prudential Financial Inc. bought a new stake in New Oriental Education & Technology Group in the 1st quarter valued at approximately $3,799,000. Finally, Verition Fund Management LLC lifted its stake in New Oriental Education & Technology Group by 158.8% in the 1st quarter. Verition Fund Management LLC now owns 5,000,000 shares of the company’s stock valued at $5,750,000 after acquiring an additional 3,067,800 shares in the last quarter. Institutional investors own 67.55% of the company’s stock.

New Oriental Education & Technology Group Company Profile

(Get Rating)

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; Online Education and Other Services; Overseas Study Consulting Services; and Others.