Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) were down 2.6% on Monday . The stock traded as low as $41.58 and last traded at $41.71, with a volume of 569,879 shares traded. The stock had previously closed at $42.81.

EDU has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 2nd. Jefferies Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of New Oriental Education & Technology Group in a research note on Friday, July 8th. Brean Capital initiated coverage on shares of New Oriental Education & Technology Group in a research note on Thursday, July 21st. They set a “buy” rating and a $52.00 price objective for the company. Nomura upped their price objective on shares of New Oriental Education & Technology Group from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, July 21st. Finally, T.H. Capital upped their price objective on shares of New Oriental Education & Technology Group from $34.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, July 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. New Oriental Education & Technology Group has a consensus rating of “Buy” and an average price target of $41.27.

The firm has a market cap of $6.55 billion and a price-to-earnings ratio of 29.19. The firm has a 50 day moving average price of $42.69 and a 200 day moving average price of $38.16.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business earned $394.90 million during the quarter, compared to analysts’ expectations of $389.98 million. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. On average, equities analysts expect that New Oriental Education & Technology Group Inc. will post $1.80 EPS for the current year.

Several institutional investors have modified their holdings of EDU. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $1,020,000. BNP Paribas Arbitrage SA boosted 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 worth $5,645,000 after buying an additional 116,148 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in New Oriental Education & Technology Group during the fourth quarter worth approximately $5,076,000.

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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