New Oriental Education & Technology Group (NYSE:EDU) Raised to “Buy” at Citigroup

New Oriental Education & Technology Group (NYSE:EDU) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat.com reports. The brokerage currently has a $50.00 price objective on the stock, down from their previous price objective of $77.00. Citigroup’s price objective would indicate a potential downside of 7.54% from the stock’s previous close.

Several other equities research analysts also recently weighed in on EDU. China Renaissance downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of “Hold” and a consensus target price of $52.00.

New Oriental Education & Technology Group Trading Down 0.7%

EDU stock opened at $54.08 on Friday. The company has a market capitalization of $9.18 billion, a PE ratio of 22.82 and a beta of 0.25. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $87.26. The business’s fifty day moving average price is $48.08 and its 200 day moving average price is $50.75.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of New Oriental Education & Technology Group by 1.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock worth $1,377,000 after acquiring an additional 247 shares in the last quarter. Natixis boosted its position in shares of New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after acquiring an additional 248 shares in the last quarter. GeoWealth Management LLC boosted its position in shares of New Oriental Education & Technology Group by 258.5% during the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Westpac Banking Corp acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth about $45,000. Finally, Corient Private Wealth LLC boosted its position in shares of New Oriental Education & Technology Group by 27.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company’s stock worth $237,000 after acquiring an additional 792 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.