New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives Average Rating of “Buy” from Brokerages

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has received an average recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $65.84.

EDU has been the topic of several recent research reports. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Zacks Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 28th. Finally, New Street Research set a $68.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, January 28th.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several institutional investors have recently made changes to their positions in the stock. First Beijing Investment Ltd grew its position in New Oriental Education & Technology Group by 31.4% during the third quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after buying an additional 2,231,169 shares in the last quarter. Aspex Management HK Ltd raised its holdings in New Oriental Education & Technology Group by 18.8% in the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock valued at $376,635,000 after acquiring an additional 1,106,716 shares in the last quarter. Invesco Ltd. raised its holdings in New Oriental Education & Technology Group by 5,697.3% in the 4th quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock valued at $253,738,000 after acquiring an additional 4,531,370 shares in the last quarter. Alkeon Capital Management LLC lifted its position in shares of New Oriental Education & Technology Group by 101.3% during the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock valued at $118,339,000 after acquiring an additional 1,104,000 shares during the period. Finally, Discerene Group LP lifted its position in shares of New Oriental Education & Technology Group by 23.7% during the 4th quarter. Discerene Group LP now owns 1,955,430 shares of the company’s stock valued at $107,607,000 after acquiring an additional 374,916 shares during the period.

New Oriental Education & Technology Group Trading Down 3.3%

New Oriental Education & Technology Group stock opened at $54.97 on Monday. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 0.94 and a beta of 0.28. New Oriental Education & Technology Group has a 12 month low of $40.66 and a 12 month high of $64.97. The stock’s 50 day moving average is $57.29 and its 200-day moving average is $55.43.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.11. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. As a group, equities research analysts predict that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.