New Oriental Education & Technology Group Inc. (NYSE:EDU) shares dropped 1.5% on Tuesday . The stock traded as low as $41.03 and last traded at $41.20, with a volume of 520,407 shares trading hands. The stock had previously closed at $41.84.

EDU has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $36.00 in a research note on Friday, March 18th. Morgan Stanley initiated coverage on New Oriental Education & Technology Group in a research note on Thursday, April 14th. They issued an “overweight” rating and a $43.00 target price on the stock. Brean Capital reiterated a “buy” rating and issued a $49.00 target price (up from $41.00) on shares of New Oriental Education & Technology Group in a research note on Wednesday, April 20th. Zacks Investment Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Wednesday, June 22nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $50.00 target price on shares of New Oriental Education & Technology Group in a research note on Friday, July 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. New Oriental Education & Technology Group has an average rating of “Buy” and a consensus price target of $38.90.

The stock has a 50-day moving average of $41.10 and a 200 day moving average of $35.71. The stock has a market capitalization of $6.44 billion and a PE ratio of 29.51.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Tuesday, April 19th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.06. The company had revenue of $346.90 million for the quarter, compared to the consensus estimate of $335.96 million. During the same period last year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities analysts predict that New Oriental Education & Technology Group Inc. will post $1.46 EPS for the current year.

Several institutional investors recently bought and sold shares of EDU. BNP Paribas Arbitrage SA raised its position in New Oriental Education & Technology Group by 182.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 179,938 shares of the company’s stock valued at $5,645,000 after buying an additional 116,148 shares during the period. Schroder Investment Management Group raised 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 during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of New Oriental Education & Technology Group by 8.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 43,500 shares of the company’s stock worth $1,365,000 after buying an additional 3,500 shares during the period. Dai Ichi Life Insurance CO. LTD. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth about $1,600,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth about $1,020,000.

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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