New Oriental Education & Technology Group (NYSE:EDU) Sets New 12-Month High – What’s Next?

New Oriental Education & Technology Group, Inc. (NYSE:EDU) shares hit a new 52-week high on Tuesday . The company traded as high as $63.80 and last traded at $63.5140, with a volume of 1517012 shares changing hands. The stock had previously closed at $62.08.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EDU shares. HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 28th. China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. New Street Research set a $68.00 price objective on New Oriental Education & Technology Group in a report on Wednesday, January 28th. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Stock Performance

The stock’s 50-day simple moving average is $55.40 and its two-hundred day simple moving average is $52.95. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.09 and a beta of 0.29.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, research analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds have recently bought and sold shares of EDU. First Beijing Investment Ltd lifted its holdings in New Oriental Education & Technology Group by 31.4% during the 3rd quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock valued at $496,019,000 after purchasing an additional 2,231,169 shares during the last quarter. Aspex Management HK Ltd boosted its holdings in shares of New Oriental Education & Technology Group by 18.8% in the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after acquiring an additional 1,106,716 shares in the last quarter. Alkeon Capital Management LLC boosted its holdings in shares of New Oriental Education & Technology Group by 101.3% in the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after acquiring an additional 1,104,000 shares in the last quarter. Tiger Pacific Capital LP bought a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $38,056,000. Finally, Norges Bank acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at $33,659,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.