Brokerages Set New Oriental Education & Technology Group, Inc. (NYSE:EDU) Target Price at $48.50

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $52.00.

A number of brokerages have recently issued reports on EDU. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $48.00 to $62.00 in a report on Tuesday. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Finally, China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $138,000. Panview Capital Ltd purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $27,358,000. RWC Asset Management LLP purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $258,000. SBI Securities Co. Ltd. purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $51,000. Finally, Green Court Capital Management Ltd purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $21,152,000.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $54.60 on Friday. The company has a 50 day simple moving average of $47.71 and a 200-day simple moving average of $50.99. The company has a market capitalization of $9.27 billion, a P/E ratio of 23.04 and a beta of 0.25. New Oriental Education & Technology Group has a 1 year low of $40.66 and a 1 year high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.91% and a net margin of 8.17%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 EPS. As a group, research analysts expect that New Oriental Education & Technology Group will post 2.75 EPS for the current year.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.