Morgan Stanley Raises New Oriental Education & Tech Grp (NYSE:EDU) Price Target to $106.00

New Oriental Education & Tech Grp (NYSE:EDU) had its target price upped by equities researchers at Morgan Stanley from $95.00 to $106.00 in a research report issued on Friday, The Fly reports. The firm currently has a “positive” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 17.42% from the company’s previous close.

Other research analysts also recently issued reports about the stock. TheStreet raised shares of New Oriental Education & Tech Grp from a “c+” rating to a “b” rating in a research report on Thursday, April 25th. CICC Research raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $92.97 price objective on the stock in a research report on Wednesday, April 24th. Zacks Investment Research raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a research report on Tuesday, March 26th. Nomura boosted their price objective on shares of New Oriental Education & Tech Grp from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Citigroup boosted their price objective on shares of New Oriental Education & Tech Grp from $80.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $93.07.

Shares of NYSE EDU traded up $0.09 during mid-day trading on Friday, hitting $90.28. The stock had a trading volume of 361,702 shares, compared to its average volume of 1,150,162. The company has a quick ratio of 1.61, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. New Oriental Education & Tech Grp has a 1 year low of $50.30 and a 1 year high of $106.72. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 0.90 and a beta of 1.61.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its earnings results on Tuesday, April 23rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. New Oriental Education & Tech Grp had a net margin of 8.80% and a return on equity of 14.88%. The company had revenue of $796.70 million for the quarter, compared to the consensus estimate of $788.52 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities research analysts anticipate that New Oriental Education & Tech Grp will post 1.68 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Rehmann Capital Advisory Group boosted its stake in New Oriental Education & Tech Grp by 145.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 185 shares in the last quarter. Icon Wealth Partners LLC bought a new position in New Oriental Education & Tech Grp in the 1st quarter worth about $31,000. Cornerstone Advisors Inc. boosted its stake in New Oriental Education & Tech Grp by 96.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 454 shares of the company’s stock worth $41,000 after purchasing an additional 223 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in New Oriental Education & Tech Grp in the 1st quarter worth about $45,000. Finally, Advisory Services Network LLC boosted its stake in New Oriental Education & Tech Grp by 31.1% in the 4th quarter. Advisory Services Network LLC now owns 876 shares of the company’s stock worth $48,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

New Oriental Education & Tech Grp Company Profile

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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