New Oriental Education & Tech Grp (EDU) Rating Lowered to Neutral at JPMorgan Chase & Co.

New Oriental Education & Tech Grp (NYSE:EDU) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Monday, The Fly reports.

Several other equities research analysts also recently issued reports on EDU. ValuEngine raised New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Nomura decreased their target price on New Oriental Education & Tech Grp from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Benchmark decreased their target price on New Oriental Education & Tech Grp from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. CLSA raised New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a research report on Monday, October 15th. Finally, Macquarie set a $75.00 target price on New Oriental Education & Tech Grp and gave the stock a “buy” rating in a research report on Tuesday, January 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $85.83.

NYSE EDU opened at $77.60 on Monday. New Oriental Education & Tech Grp has a fifty-two week low of $50.30 and a fifty-two week high of $108.24. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 1.41 and a beta of 1.52.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its earnings results on Tuesday, January 22nd. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.11. New Oriental Education & Tech Grp had a return on equity of 13.78% and a net margin of 8.32%. The company had revenue of $597.07 million for the quarter, compared to analyst estimates of $578.50 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts anticipate that New Oriental Education & Tech Grp will post 1.63 EPS for the current year.

New Oriental Education & Tech Grp declared that its board has authorized a stock repurchase program on Tuesday, October 23rd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in New Oriental Education & Tech Grp by 8.9% during the 4th quarter. BlackRock Inc. now owns 7,273,281 shares of the company’s stock worth $398,651,000 after acquiring an additional 597,436 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in New Oriental Education & Tech Grp by 32.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 708,600 shares of the company’s stock worth $38,838,000 after acquiring an additional 174,000 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in New Oriental Education & Tech Grp by 2.8% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,333 shares of the company’s stock worth $2,392,000 after acquiring an additional 1,200 shares during the period. Westpac Banking Corp acquired a new stake in New Oriental Education & Tech Grp during the 4th quarter worth $909,000. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in New Oriental Education & Tech Grp by 29.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 226,969 shares of the company’s stock worth $12,440,000 after acquiring an additional 50,997 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.

About New Oriental Education & Tech Grp

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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