New Oriental Education & Technology Group Inc. (NYSE:EDU – Get Free Report) shares saw unusually-strong trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 1,418,332 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 1,881,367 shares.The stock last traded at $62.02 and had previously closed at $67.13.
The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The company’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share.
New Oriental Education & Technology Group Dividend Announcement
The firm also recently announced a — dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a dividend of $0.58 per share. The ex-dividend date was Monday, September 9th.
Wall Street Analyst Weigh In
View Our Latest Report on New Oriental Education & Technology Group
Institutional Investors Weigh In On New Oriental Education & Technology Group
A number of institutional investors and hedge funds have recently bought and sold shares of EDU. Price T Rowe Associates Inc. MD purchased a new stake in New Oriental Education & Technology Group in the first quarter valued at approximately $103,392,000. Farallon Capital Management LLC raised its stake in New Oriental Education & Technology Group by 139.0% in the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after purchasing an additional 854,590 shares in the last quarter. Millennium Management LLC raised its stake in New Oriental Education & Technology Group by 147.5% in the second quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after purchasing an additional 436,098 shares in the last quarter. Thornburg Investment Management Inc. raised its stake in New Oriental Education & Technology Group by 211.7% in the second quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company’s stock valued at $43,058,000 after purchasing an additional 376,036 shares in the last quarter. Finally, WT Asset Management Ltd raised its stake in New Oriental Education & Technology Group by 21.4% in the second quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock valued at $134,533,000 after purchasing an additional 304,712 shares in the last quarter.
New Oriental Education & Technology Group Price Performance
The business’s 50 day moving average is $67.08 and its two-hundred day moving average is $74.20. The firm has a market capitalization of $10.38 billion, a PE ratio of 32.89 and a beta of 0.47.
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.
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