New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down to $89.59

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $89.59, but opened at $84.54. New Oriental Education & Technology Group shares last traded at $73.90, with a volume of 3,153,898 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EDU shares. Morgan Stanley boosted their price target on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th.

New Oriental Education & Technology Group Price Performance

The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 42.02 and a beta of 0.49. The business’s 50 day simple moving average is $89.76 and its 200 day simple moving average is $78.83.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results 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 net margin of 8.54% and a return on equity of 7.97%. The business had revenue of $869.60 million during the quarter, compared to analysts’ expectations of $814.01 million. During the same period last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. As a group, analysts expect that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 1,642.9% in the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000 after purchasing an additional 575 shares in the last quarter. Personal CFO Solutions LLC purchased a new position in shares of New Oriental Education & Technology Group during the third quarter valued at approximately $200,000. AFG Fiduciary Services Limited Partnership purchased a new position in shares of New Oriental Education & Technology Group during the third quarter valued at approximately $218,000. Jump Financial LLC purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $235,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $240,000.

New Oriental Education & Technology Group Company Profile

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.