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

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $66.24.

Several analysts have recently weighed in on the stock. New Street Research set a $65.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, June 11th. Weiss Ratings cut shares of New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and dropped their price target for the company from $67.00 to $65.00 in a research note on Thursday, June 11th. Finally, Zacks Research cut shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after acquiring an additional 512 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $72,000. Raymond James Financial Inc. acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $111,000. Finally, Leonteq Securities AG acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $155,000.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock opened at $45.95 on Wednesday. The firm has a 50 day simple moving average of $49.07 and a 200-day simple moving average of $54.06. New Oriental Education & Technology Group has a 1-year low of $41.62 and a 1-year high of $64.97. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 0.64 and a beta of 0.17.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share for the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. The business had revenue of $1.42 billion during the quarter. Equities analysts expect that New Oriental Education & Technology Group will post 3.19 earnings per share for the current fiscal year.

About New Oriental Education & Technology Group

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.