New Oriental Education & Technology Group (NYSE:EDU) Trading Down 5.1% – What’s Next?

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s share price was down 5.1% during trading on Monday . The stock traded as low as $59.58 and last traded at $59.49. Approximately 871,284 shares were traded during trading, a decline of 24% from the average daily volume of 1,153,807 shares. The stock had previously closed at $62.72.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. 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. HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, New Street Research set a $68.00 price target on New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Stock Performance

The firm has a fifty day simple moving average of $56.35 and a two-hundred day simple moving average of $53.37. The firm has a market cap of $9.48 billion, a PE ratio of 25.42, a PEG ratio of 1.07 and a beta of 0.27.

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

Institutional Trading of New Oriental Education & Technology Group

Hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. boosted its stake in New Oriental Education & Technology Group by 2.5% in the third quarter. TD Waterhouse Canada Inc. now owns 9,108 shares of the company’s stock valued at $485,000 after acquiring an additional 218 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of New Oriental Education & Technology Group by 2.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 12,922 shares of the company’s stock valued at $686,000 after buying an additional 300 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of New Oriental Education & Technology Group by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock valued at $186,000 after buying an additional 324 shares during the last quarter. KBC Group NV increased its position in shares of New Oriental Education & Technology Group by 11.3% in the 2nd quarter. KBC Group NV now owns 4,474 shares of the company’s stock valued at $241,000 after acquiring an additional 454 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after acquiring an additional 512 shares during the period.

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.