New Oriental Education & Technology Group, Inc. (NYSE:EDU) was downgraded by stock analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research note issued on Thursday, The Fly reports.

A number of other analysts have also recently commented on the stock. Morgan Stanley assumed coverage on shares of New Oriental Education & Technology Group in a research note on Friday, August 25th. They issued an “overweight” rating and a $100.00 target price on the stock. UBS AG assumed coverage on shares of New Oriental Education & Technology Group in a research note on Tuesday, August 1st. They issued a “buy” rating and a $96.75 target price on the stock. Zacks Investment Research cut shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 28th. Benchmark Co. increased their target price on shares of New Oriental Education & Technology Group from $75.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, BidaskClub cut shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $79.32.

Shares of New Oriental Education & Technology Group (NYSE:EDU) opened at 91.86 on Thursday. The company’s 50-day moving average price is $81.44 and its 200-day moving average price is $70.22. New Oriental Education & Technology Group has a 52-week low of $37.16 and a 52-week high of $94.30. The firm has a market cap of $14.48 billion, a PE ratio of 52.79 and a beta of 1.37.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). The company had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $477.81 million. New Oriental Education & Technology Group had a net margin of 15.25% and a return on equity of 17.02%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Equities analysts expect that New Oriental Education & Technology Group will post $2.38 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the business. Tairen Capital Ltd grew its holdings in shares of New Oriental Education & Technology Group by 8.3% in the second quarter. Tairen Capital Ltd now owns 1,890,988 shares of the company’s stock worth $133,296,000 after purchasing an additional 145,192 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of New Oriental Education & Technology Group in the second quarter worth about $1,259,000. Bank of Nova Scotia bought a new position in shares of New Oriental Education & Technology Group in the second quarter worth about $1,903,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of New Oriental Education & Technology Group by 5.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 3,585 shares of the company’s stock worth $253,000 after purchasing an additional 182 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of New Oriental Education & Technology Group by 118.4% in the second quarter. Cubist Systematic Strategies LLC now owns 13,078 shares of the company’s stock worth $922,000 after purchasing an additional 7,091 shares during the last quarter. Institutional investors and hedge funds own 76.33% of the company’s stock.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

The Fly

Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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