New Oriental Education & Technology Group (NYSE:EDU) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a neutral rating to an overweight rating in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm currently has $62.00 price objective on the stock, up from their prior price objective of $48.00.

EDU has been the subject of several other reports. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. China Renaissance lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.00.

New Oriental Education & Technology Group Stock Up 13.1%

NYSE EDU opened at $55.46 on Tuesday. The company has a 50-day simple moving average of $47.50 and a two-hundred day simple moving average of $50.97. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $87.26. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 23.40 and a beta of 0.25.

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

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors have recently modified their holdings of EDU. SBI Securities Co. Ltd. purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $51,000. Green Court Capital Management Ltd purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $21,152,000. Raymond James Financial Inc. bought a new position in New Oriental Education & Technology Group in the fourth quarter worth about $266,000. Prescott Group Capital Management L.L.C. raised its stake in New Oriental Education & Technology Group by 153.0% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 25,303 shares of the company’s stock worth $1,624,000 after buying an additional 15,303 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in New Oriental Education & Technology Group by 1.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock worth $1,377,000 after buying an additional 247 shares in the last quarter.

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.