New Oriental Education & Technology Group (NYSE:EDU) Hits New 52-Week High – Time to Buy?

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $63.80 and last traded at $63.5140, with a volume of 1517012 shares changing hands. The stock had previously closed at $62.08.

Wall Street Analysts Forecast Growth

EDU has been the topic of several research analyst reports. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Saturday. Hsbc Global Res raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. HSBC raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Finally, Zacks Research raised shares of New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.84.

New Oriental Education & Technology Group Stock Performance

The business’s 50-day moving average is $55.40 and its two-hundred day moving average is $52.95. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.09 and a beta of 0.29.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. Analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 2.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 9,108 shares of the company’s stock valued at $485,000 after buying an additional 218 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in 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 worth $686,000 after acquiring an additional 300 shares in the last quarter. KBC Group NV lifted its stake in New Oriental Education & Technology Group by 11.3% in the second 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 last quarter. Caitong International Asset Management Co. Ltd grew 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. Finally, Fox Run Management L.L.C. increased its stake in shares of New Oriental Education & Technology Group by 5.7% during the 3rd quarter. Fox Run Management L.L.C. now owns 10,548 shares of the company’s stock worth $560,000 after purchasing an additional 573 shares during the last quarter.

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.