Zacks Research Upgrades New Oriental Education & Technology Group (NYSE:EDU) to Strong-Buy

New Oriental Education & Technology Group (NYSE:EDU) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $60.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday. China Renaissance upgraded 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 objective on New Oriental Education & Technology Group in a report on Wednesday, January 28th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $65.84.

New Oriental Education & Technology Group Stock Up 2.3%

Shares of EDU stock opened at $63.51 on Monday. The company’s fifty day simple moving average is $55.66 and its 200-day simple moving average is $53.05. The firm has a market cap of $10.04 billion, a PE ratio of 26.91, a P/E/G ratio of 1.06 and a beta of 0.27. New Oriental Education & Technology Group has a 12 month low of $40.66 and a 12 month high of $63.80.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts predict that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. First Beijing Investment Ltd increased its position in New Oriental Education & Technology Group by 31.4% during the third quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after acquiring an additional 2,231,169 shares during the period. Aspex Management HK Ltd grew its position in shares of New Oriental Education & Technology Group by 18.8% during the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after purchasing an additional 1,106,716 shares in the last quarter. Alkeon Capital Management LLC grew its position in shares of New Oriental Education & Technology Group by 101.3% during the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after purchasing an additional 1,104,000 shares in the last quarter. Tiger Pacific Capital LP bought a new position in shares of New Oriental Education & Technology Group during the second quarter worth approximately $38,056,000. Finally, Norges Bank acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at approximately $33,659,000.

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.