New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price rose 2.1% during trading on Thursday . The company traded as high as $40.36 and last traded at $40.30, with a volume of 586,798 shares traded. The stock had previously closed at $39.48.

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

The firm’s 50 day moving average price is $42.38 and its 200 day moving average price is $38.81. The firm has a market capitalization of $6.39 billion and a PE ratio of 28.47.

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

A hedge fund recently raised its position in New Oriental Education & Technology Group stock. BNP Paribas Arbitrage SA boosted its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 182.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,938 shares of the company’s stock after buying an additional 116,148 shares during the period. BNP Paribas Arbitrage SA owned about 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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