New Oriental Education & Tech Grp (EDU) Raised to Outperform at CLSA

New Oriental Education & Tech Grp (NYSE:EDU) was upgraded by equities research analysts at CLSA from an “underperform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

Several other research firms have also issued reports on EDU. Zacks Investment Research upgraded shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Tuesday, September 26th. Vetr downgraded shares of New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating and set a $94.84 price objective on the stock. in a report on Wednesday, October 4th. Bank of America raised shares of New Oriental Education & Tech Grp from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Monday, September 25th. Benchmark upped their price objective on shares of New Oriental Education & Tech Grp from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Jefferies Group reissued a “buy” rating and issued a $109.00 price target on shares of New Oriental Education & Tech Grp in a report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $93.07.

New Oriental Education & Tech Grp (EDU) traded up $0.92 on Wednesday, reaching $91.81. 621,764 shares of the company’s stock were exchanged, compared to its average volume of 1,350,188. The company has a market cap of $14,488.32, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 1.42 and a beta of 1.32. New Oriental Education & Tech Grp has a 52-week low of $40.01 and a 52-week high of $94.63.

New Oriental Education & Tech Grp (NYSE:EDU) last released its earnings results on Tuesday, October 24th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.04). New Oriental Education & Tech Grp had a net margin of 15.15% and a return on equity of 17.32%. The company had revenue of $661.20 million for the quarter, compared to analyst estimates of $643.90 million. During the same quarter in the previous year, the firm earned $0.90 EPS. The firm’s revenue was up 23.8% on a year-over-year basis. analysts expect that New Oriental Education & Tech Grp will post 2.03 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in New Oriental Education & Tech Grp by 2.4% during the second quarter. PNC Financial Services Group Inc. now owns 1,513 shares of the company’s stock valued at $107,000 after buying an additional 35 shares during the period. Nippon Life Insurance Co. purchased a new position in New Oriental Education & Tech Grp during the second quarter valued at $111,000. Advisor Group Inc. raised its position in shares of New Oriental Education & Tech Grp by 182.5% in the 2nd quarter. Advisor Group Inc. now owns 1,743 shares of the company’s stock worth $123,000 after purchasing an additional 1,126 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of New Oriental Education & Tech Grp by 88.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,628 shares of the company’s stock worth $144,000 after purchasing an additional 766 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in New Oriental Education & Tech Grp in the 2nd quarter worth about $207,000. 77.15% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “New Oriental Education & Tech Grp (EDU) Raised to Outperform at CLSA” was first reported by American Market News and is the sole property of of American Market News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/12/20/new-oriental-education-tech-grp-edu-raised-to-outperform-at-clsa.html.

New Oriental Education & Tech Grp Company Profile

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.