New Oriental Education & Technology Group (NYSE:EDU) Upgraded at Zacks Research

New Oriental Education & Technology Group (NYSE:EDU) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. New Street Research set a $68.00 price objective on New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Hsbc Global Res upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their target price on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $65.84.

New Oriental Education & Technology Group Trading Up 2.3%

Shares of NYSE:EDU opened at $63.51 on Monday. New Oriental Education & Technology Group has a 1-year low of $40.66 and a 1-year high of $63.80. The stock has a market capitalization of $10.04 billion, a P/E ratio of 26.91, a P/E/G ratio of 1.06 and a beta of 0.27. The business has a 50-day moving average price of $55.66 and a two-hundred day moving average price of $53.05.

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

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several large investors have recently made changes to their positions in EDU. Swedbank AB lifted its position in New Oriental Education & Technology Group by 52.0% in the 4th quarter. Swedbank AB now owns 35,651 shares of the company’s stock valued at $1,962,000 after acquiring an additional 12,200 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of New Oriental Education & Technology Group by 21.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 15,671 shares of the company’s stock valued at $862,000 after purchasing an additional 2,749 shares during the period. Jaffetilchin Investment Partners LLC acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $220,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after purchasing an additional 512 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of New Oriental Education & Technology Group during the third quarter worth about $220,000.

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.