New Oriental Education & Technology Group Inc. (NYSE:EDU) shares traded down 2.3% during mid-day trading on Wednesday . The stock traded as low as $41.07 and last traded at $41.59, with a volume of 435,221 shares traded. The stock had previously closed at $42.57.

Several research analysts recently issued reports on the company. Zacks Investment Research downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd. Brean Capital restated a “buy” rating and set a $49.00 price objective (up from $41.00) on shares of New Oriental Education & Technology Group in a research report on Wednesday, April 20th. Morgan Stanley assumed coverage on New Oriental Education & Technology Group in a research report on Thursday, April 14th. They set an “overweight” rating and a $43.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $36.00 in a research report on Friday, March 18th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. New Oriental Education & Technology Group has a consensus rating of “Buy” and an average target price of $37.10.

The stock’s 50 day moving average is $41.06 and its 200 day moving average is $35.42. The company has a market capitalization of $6.50 billion and a P/E ratio of 29.82.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Tuesday, April 19th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.06. The firm had revenue of $346.90 million for the quarter, compared to analyst estimates of $335.96 million. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Equities analysts predict that New Oriental Education & Technology Group Inc. will post $1.43 earnings per share for the current fiscal year.

Other hedge funds and institutional investors have recently modified their holdings of the company. Schroder Investment Management Group boosted its position in shares of New Oriental Education & Technology Group by 69.0% in the fourth quarter. Schroder Investment Management Group now owns 4,379,953 shares of the company’s stock worth $137,399,000 after buying an additional 1,788,518 shares in the last quarter. Boston Partners boosted its position in shares of New Oriental Education & Technology Group by 5.8% in the fourth quarter. Boston Partners now owns 2,753,245 shares of the company’s stock worth $86,369,000 after buying an additional 151,546 shares in the last quarter. Russell Frank Co boosted its position in shares of New Oriental Education & Technology Group by 298.4% in the fourth quarter. Russell Frank Co now owns 684,228 shares of the company’s stock worth $21,619,000 after buying an additional 512,503 shares in the last quarter. Myriad Asset Management Ltd. purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth about $16,381,000. Finally, California Public Employees Retirement System boosted its position in shares of New Oriental Education & Technology Group by 19.4% in the fourth quarter. California Public Employees Retirement System now owns 400,800 shares of the company’s stock worth $12,573,000 after buying an additional 65,100 shares in the last quarter.

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company offers a range of educational programs, services and products, consisting primarily of English and other foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.

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