New Oriental Education & Technology Group Inc. (NYSE:EDU) shares traded up 1.9% during mid-day trading on Tuesday . The stock traded as high as $42.03 and last traded at $41.87, with a volume of 1,885,333 shares trading hands. The stock had previously closed at $41.09.

A number of brokerages have recently weighed in on EDU. Nomura increased their price objective on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday. Brean Capital assumed coverage on New Oriental Education & Technology Group in a research note on Thursday. They issued a “buy” rating and a $52.00 target price on the stock. Jefferies Group restated 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. 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. Finally, 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 target on the stock. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. New Oriental Education & Technology Group presently has an average rating of “Buy” and an average price target of $39.27.

The company has a 50 day moving average price of $41.15 and a 200-day moving average price of $36.05. The stock has a market cap of $6.99 billion and a price-to-earnings ratio of 32.06.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The company earned $394.90 million during the quarter, compared to analyst estimates of $389.98 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities analysts forecast that New Oriental Education & Technology Group Inc. will post $1.42 EPS for the current fiscal year.

Several institutional investors recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. bought a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $1,020,000. Shell Asset Management Co. acquired a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $1,033,000. GSA Capital Partners LLP raised its stake in New Oriental Education & Technology Group by 40.0% in the fourth quarter. GSA Capital Partners LLP now owns 32,930 shares of the company’s stock valued at $1,033,000 after buying an additional 9,406 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in 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 valued at $1,365,000 after buying an additional 3,500 shares during the period. Finally, Dai Ichi Life Insurance CO. LTD. acquired a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $1,600,000.

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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