New Oriental Education & Technology Group (NYSE:EDU) Shares Down 3.1%

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares were down 3.1% on Friday . The company traded as low as $79.26 and last traded at $79.85. Approximately 103,859 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,710,811 shares. The stock had previously closed at $82.38.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EDU shares. Citigroup raised their price objective on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Morgan Stanley lifted their price target on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, HSBC began coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.75.

New Oriental Education & Technology Group Price Performance

The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 44.29 and a beta of 0.44. The business’s 50 day simple moving average is $79.64 and its 200 day simple moving average is $82.21.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.09 billion. New Oriental Education & Technology Group had a net margin of 7.72% and a return on equity of 8.11%. As a group, analysts expect that New Oriental Education & Technology Group Inc. will post 1.86 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 37.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock valued at $173,997,000 after acquiring an additional 646,122 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in New Oriental Education & Technology Group by 141.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock worth $117,892,000 after buying an additional 942,392 shares in the last quarter. Keystone Investors PTE Ltd. boosted its holdings in New Oriental Education & Technology Group by 1.1% during the fourth quarter. Keystone Investors PTE Ltd. now owns 1,429,515 shares of the company’s stock worth $104,755,000 after buying an additional 15,842 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in New Oriental Education & Technology Group during the first quarter worth about $103,392,000. Finally, Sylebra Capital LLC purchased a new stake in New Oriental Education & Technology Group during the third quarter worth about $63,935,000.

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.