New Oriental Education & Technology Group (NYSE:EDU) Shares Up 2.4%

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) shot up 2.4% during trading on Wednesday . The stock traded as high as $87.56 and last traded at $86.84. 664,113 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,654,211 shares. The stock had previously closed at $84.80.

Analysts Set New Price Targets

EDU has been the topic of a number of research reports. StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Morgan Stanley increased their target price on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th.

New Oriental Education & Technology Group Stock Performance

The stock’s 50-day moving average is $89.46 and its 200 day moving average is $76.97. The stock has a market capitalization of $15.13 billion, a PE ratio of 48.98 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.23). New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The business had revenue of $869.60 million for the quarter, compared to analysts’ expectations of $814.01 million. During the same period in the previous year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. Analysts expect that New Oriental Education & Technology Group Inc. will post 2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of New Oriental Education & Technology Group by 2.4% in the 1st quarter. BlackRock Inc. now owns 64,329,110 shares of the company’s stock worth $73,977,000 after acquiring an additional 1,492,990 shares during the period. Renaissance Technologies LLC lifted its stake in shares of New Oriental Education & Technology Group by 130.8% in the first quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock valued at $43,114,000 after purchasing an additional 21,246,644 shares during the period. Wellington Management Group LLP lifted its stake in shares of New Oriental Education & Technology Group by 11.4% in the first quarter. Wellington Management Group LLP now owns 9,078,131 shares of the company’s stock valued at $10,441,000 after purchasing an additional 932,613 shares during the period. FMR LLC lifted its stake in shares of New Oriental Education & Technology Group by 92.7% in the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock valued at $388,274,000 after purchasing an additional 3,189,254 shares during the period. Finally, Bridgewater Associates LP lifted its stake in shares of New Oriental Education & Technology Group by 48.9% in the first quarter. Bridgewater Associates LP now owns 6,201,032 shares of the company’s stock valued at $7,131,000 after purchasing an additional 2,035,926 shares during the period.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.