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

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $66.24.

EDU has been the topic of a number of research reports. Zacks Research downgraded New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $67.00 to $65.00 in a research report on Thursday, June 11th. New Street Research set a $65.00 price objective on shares of New Oriental Education & Technology Group in a research note on Thursday, June 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday.

New Oriental Education & Technology Group Stock Down 0.1%

EDU opened at $49.30 on Friday. The stock has a fifty day moving average of $47.29 and a 200-day moving average of $53.23. The firm has a market capitalization of $7.79 billion, a P/E ratio of 18.89, a PEG ratio of 0.69 and a beta of 0.19. New Oriental Education & Technology Group has a 12-month low of $41.62 and a 12-month high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last issued 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 return on equity of 11.67% and a net margin of 7.82%.The business had revenue of $1.42 billion for the quarter. On average, analysts expect that New Oriental Education & Technology Group will post 3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of New Oriental Education & Technology Group by 7,314.3% during the third 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in New Oriental Education & Technology Group by 106.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $72,000. Raymond James Financial Inc. acquired a new position in New Oriental Education & Technology Group in the 2nd quarter worth about $111,000. Finally, Leonteq Securities AG acquired a new position in New Oriental Education & Technology Group in the 4th quarter worth about $155,000.

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.