New Oriental Education Technology Group Co., Ltd. (NYSE: EDU – Get Rating ) has received an average rating of “Moderate Buy” from the nine research firms covering the company, according to MarketBeat. One research analyst has issued a hold recommendation on the stock and seven have issued a buy recommendation to the company. Brokers who reported on the stock last year had an average 12-month price target of $36.60.
EDU has been the subject of many recent analyst reports. StockNews.com first reported on New Oriental Education Technology Group in a report on Wednesday, October 12th. They have a “hold” rating on the company. TheStreet downgraded New Oriental Education Technology Group from a ‘c-‘ rating to a ‘d’ rating in a research report on Monday, November 21st.
Institutional transaction of New Oriental Education Technology Group
Hedge funds recently revised their holdings in the business. US Bancorp DE increased its stake in New Oriental Education Technology by 29.2% in the second quarter. US Bancorp DE now owns 7,509 shares of the company worth $154,000 after purchasing an additional 1,696 shares last quarter. Carmignac Gestion increased its holdings in New Oriental by 187.6% in the first quarter. After purchasing an additional 28,122,503 shares last quarter, Carmignac Gestion now owns 43,110,546 shares of the company worth $49,647,000. Edmond DE Rothschild Holding SA purchased a new stake in New Oriental Education Technology Group for $2,861,000 in the second quarter. Granite Point Capital Management LP bought a new stake in New Oriental Education Technology Group in the second quarter, valued at $509,000. Finally, Ariose Capital Management Ltd purchased $6,395,000 worth of new shares in New Oriental Education Technology Group during the second quarter. Hedge funds and other institutional investors own 67.55% of the company.
New Oriental Education Technology Group shares rose 0.3%
Shares of New Oriental Education Technology Group opened at $38.56 on Wednesday. The company’s 50-day simple moving average is $28.93 and its 200-day simple moving average is $25.77. New Oriental Education Technology Group had a twelve-month low of $8.40 and a twelve-month high of $42.19.
New Oriental Education Technology Group (NYSE: EDU – Get Rating ) reported its quarterly earnings results on Wednesday, October 26. The company reported EPS of $0.38 for the quarter. The company’s revenue for the quarter was $744.8 million, compared with analyst estimates of $689.08 million. The company’s revenue fell 43.1% year-over-year during the quarter. Research analysts expect New Oriental Education Technology Group to post earnings per share of 0.48 for the fiscal year.
About New Oriental Education Technology Group
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New Oriental Education Technology Group Co., Ltd. provides private education services under the New Oriental brand in the People’s Republic of China. The company operates through Educational Services and Test Preparation Programs; Online Education and Other Services; Study Abroad Consulting Services; and Other segments.
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