New Oriental Education & Tech Grp (NYSE:EDU) Shares Acquired by BlackRock Inc.

BlackRock Inc. lifted its position in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,823,842 shares of the company’s stock after purchasing an additional 114,755 shares during the period. BlackRock Inc. owned about 6.19% of New Oriental Education & Tech Grp worth $852,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stonebridge Capital Advisors LLC acquired a new position in shares of New Oriental Education & Tech Grp during the second quarter worth $29,000. LSV Asset Management acquired a new stake in New Oriental Education & Tech Grp in the second quarter valued at $38,000. Commonwealth Bank of Australia acquired a new stake in New Oriental Education & Tech Grp in the second quarter valued at $38,000. CWM LLC acquired a new stake in New Oriental Education & Tech Grp in the second quarter valued at $55,000. Finally, Huntington National Bank raised its holdings in New Oriental Education & Tech Grp by 19.5% in the second quarter. Huntington National Bank now owns 570 shares of the company’s stock valued at $55,000 after acquiring an additional 93 shares in the last quarter. 86.33% of the stock is currently owned by institutional investors and hedge funds.

EDU stock opened at $120.43 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.50 and a quick ratio of 1.49. New Oriental Education & Tech Grp has a 1-year low of $50.30 and a 1-year high of $124.40. The firm has a fifty day moving average price of $114.82 and a two-hundred day moving average price of $101.58. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 80.29, a PEG ratio of 1.27 and a beta of 1.49.

New Oriental Education & Tech Grp (NYSE:EDU) last released its earnings results on Tuesday, October 22nd. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. New Oriental Education & Tech Grp had a net margin of 9.79% and a return on equity of 14.22%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts expect that New Oriental Education & Tech Grp will post 3.01 EPS for the current fiscal year.

Several analysts recently issued reports on EDU shares. Zacks Investment Research raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “strong-buy” rating and set a $129.00 price target on the stock in a report on Thursday, October 24th. ValuEngine cut shares of New Oriental Education & Tech Grp from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 30th. Citigroup reaffirmed a “buy” rating and issued a $130.00 price target (up from $115.00) on shares of New Oriental Education & Tech Grp in a report on Thursday, October 10th. JPMorgan Chase & Co. raised shares of New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating and upped their price target for the company from $88.00 to $143.00 in a report on Thursday, October 17th. Finally, Benchmark upped their price target on shares of New Oriental Education & Tech Grp from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $113.87.

New Oriental Education & Tech Grp 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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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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