New Oriental Education & Tech Grp Coverage Initiated by Analysts at Credit Suisse (EDU)
Research analysts at Credit Suisse initiated coverage on shares of New Oriental Education & Tech Grp (NYSE:EDU) in a report released on Wednesday. The firm set an “outperform” rating and a $30.00 price target on the stock. Credit Suisse’s price objective indicates a potential upside of 32.39% from the company’s current price.
Shares of New Oriental Education & Tech Grp (NYSE:EDU) opened at 22.66 on Wednesday. New Oriental Education & Tech Grp has a 1-year low of $18.74 and a 1-year high of $34.50. The stock’s 50-day moving average is $21.74 and its 200-day moving average is $25.65. The company has a market cap of $3.555 billion and a P/E ratio of 16.36.
New Oriental Education & Tech Grp (NYSE:EDU) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts expect that New Oriental Education & Tech Grp will post $1.55 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at TheStreet downgraded shares of New Oriental Education & Tech Grp to a “hold” rating in a research note on Tuesday, August 12th. Separately, analysts at Zacks downgraded shares of New Oriental Education & Tech Grp from a “neutral” rating to an “underperform” rating in a research note on Friday, July 25th. They now have a $18.40 price target on the stock. Finally, 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, July 24th. They now have a $22.00 price target on the stock, down previously from $36.50. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.27.
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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