New Oriental Education & Technology Group (NYSE:EDU) Trading 10.6% Higher – Should You Buy?

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s share price traded up 10.6% during mid-day trading on Wednesday . The company traded as high as $55.55 and last traded at $56.1810. Approximately 141,511 shares changed hands during trading, a decline of 82% from the average session volume of 790,706 shares. The stock had previously closed at $50.79.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. New Street Research set a $65.00 target price on shares of New Oriental Education & Technology Group in a research report on Thursday, June 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group has an average rating of “Moderate Buy” and an average target price of $66.24.

New Oriental Education & Technology Group Stock Performance

The company has a market capitalization of $9.09 billion, a P/E ratio of 22.06, a PEG ratio of 0.69 and a beta of 0.19. The stock has a fifty day moving average of $47.27 and a 200 day moving average of $53.11.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $1.42 billion during the quarter. New Oriental Education & Technology Group had a return on equity of 11.67% and a net margin of 7.82%. Research analysts anticipate that New Oriental Education & Technology Group, Inc. will post 3.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of New Oriental Education & Technology Group by 5,697.3% during the 4th quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock valued at $253,738,000 after acquiring an additional 4,531,370 shares during the period. Discerene Group LP boosted its holdings in New Oriental Education & Technology Group by 23.7% in the 4th quarter. Discerene Group LP now owns 1,955,430 shares of the company’s stock worth $107,607,000 after buying an additional 374,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in New Oriental Education & Technology Group in the 4th quarter worth $86,526,000. Orbis Allan Gray Ltd increased its stake in New Oriental Education & Technology Group by 40.2% in the 4th quarter. Orbis Allan Gray Ltd now owns 837,551 shares of the company’s stock worth $46,090,000 after buying an additional 240,053 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in New Oriental Education & Technology Group by 13,865.2% in the 4th quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock worth $40,846,000 after buying an additional 736,934 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

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.