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New Oriental Education & Tech Grp (NYSE:EDU) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday. They currently have a $18.40 price target on the stock. Zacks‘s price target indicates a potential downside of 5.15% from the stock’s previous close.

Shares of New Oriental Education & Tech Grp (NYSE:EDU) traded up 0.05% during mid-day trading on Friday, hitting $19.40. The stock had a trading volume of 2,534,660 shares. New Oriental Education & Tech Grp has a 52 week low of $18.88 and a 52 week high of $34.50. The stock’s 50-day moving average is $25.28 and its 200-day moving average is $27.37. The company has a market cap of $3.043 billion and a price-to-earnings ratio of 14.15.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $287.50 million for the quarter, compared to the consensus estimate of $281.58 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts expect that New Oriental Education & Tech Grp will post $1.34 EPS for the current fiscal year.

A number of other firms have also recently commented on EDU. Analysts at Macquarie downgraded shares of New Oriental Education & Tech Grp from an “outperform” rating to a “neutral” rating in a research note on Thursday. They now have a $22.00 price target on the stock, down previously from $36.50. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of New Oriental Education & Tech Grp in a research note on Wednesday. They now have a $34.00 price target on the stock, down previously from $40.00. Finally, analysts at Oppenheimer downgraded shares of New Oriental Education & Tech Grp from an “outperform” rating to a “market perform” rating in a research note on Wednesday. They now have a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $26.93.

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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