New Oriental Education & Technology Group Inc. (NYSE:EDU) shares rose 2.5% during trading on Thursday . The stock traded as high as $40.57 and last traded at $40.57, with a volume of 581,855 shares changing hands. The stock had previously closed at $39.59.

EDU has been the topic of several research reports. Brean Capital reissued a “buy” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, August 2nd. Zacks Investment Research raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, July 22nd. T.H. Capital raised their price objective on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Jefferies Group reissued a “buy” rating and issued a $50.00 price objective on shares of New Oriental Education & Technology Group in a research report on Friday, July 8th. Finally, Nomura raised their price objective on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, July 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $41.27.

The company has a 50-day moving average price of $42.50 and a 200-day moving average price of $38.51. The stock has a market capitalization of $6.35 billion and a price-to-earnings ratio of 28.27.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $394.90 million for the quarter, compared to analysts’ expectations of $389.98 million. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Analysts anticipate that New Oriental Education & Technology Group Inc. will post $1.80 EPS for the current fiscal year.

An institutional investor recently raised its position in New Oriental Education & Technology Group stock. BNP Paribas Arbitrage SA raised its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 182.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,938 shares of the company’s stock after buying an additional 116,148 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.11% of New Oriental Education & Technology Group worth $5,645,000 at the end of the most recent reporting period.

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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