New Oriental Education & Tech Grp Receives Overweight Rating from JPMorgan Chase & Co. (EDU)
New Oriental Education & Tech Grp (NYSE:EDU)‘s stock had its “overweight” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday. They currently have a $40.00 target price on the stock, up from their previous target price of $35.00. JPMorgan Chase & Co.’s price objective indicates a potential upside of 53.26% from the company’s current price.
New Oriental Education & Tech Grp (NYSE:EDU) traded down 2.61% during mid-day trading on Tuesday, hitting $25.42. The stock had a trading volume of 215,380 shares. New Oriental Education & Tech Grp has a 52 week low of $20.76 and a 52 week high of $34.50. The stock has a 50-day moving average of $26.08 and a 200-day moving average of $27.98. The company has a market cap of $3.973 billion and a P/E ratio of 20.23.
New Oriental Education & Tech Grp (NYSE:EDU) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.04. The company had revenue of $254.40 million for the quarter, compared to the consensus estimate of $267.20 million. During the same quarter last year, the company posted $0.18 earnings per share. New Oriental Education & Tech Grp’s revenue was up 16.4% compared to the same quarter last year. On average, analysts predict that New Oriental Education & Tech Grp will post $1.33 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on EDU. Analysts at Deutsche Bank downgraded shares of New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. They now have a $27.00 price target on the stock, down previously from $37.00. Separately, analysts at Oppenheimer cut their price target on shares of New Oriental Education & Tech Grp from $37.00 to $32.00 in a research note on Tuesday, April 29th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of New Oriental Education & Tech Grp in a research note on Tuesday, April 29th. They now have a $35.00 price target on the stock, down previously from $40.00. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.77.
New Oriental Education & Technology Group Inc is a provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence.
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