New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Lowered by Citigroup

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They currently have a $50.00 target price on the stock. Citigroup’s price objective suggests a potential upside of 6.86% from the stock’s current price.

EDU has been the subject of several other reports. Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $83.00 to $52.00 in a research note on Wednesday. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $79.00 to $44.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $50.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Trading Up 1.4 %

Shares of EDU opened at $46.79 on Friday. The company’s 50 day simple moving average is $60.22 and its 200-day simple moving average is $64.93. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $98.20. The firm has a market cap of $7.94 billion, a PE ratio of 19.91 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business posted $0.99 earnings per share. New Oriental Education & Technology Group’s quarterly revenue was up 30.5% on a year-over-year basis. As a group, equities research analysts forecast that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aspex Management HK Ltd boosted its holdings in New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after buying an additional 1,513,640 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of New Oriental Education & Technology Group by 23.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,823,200 shares of the company’s stock worth $138,271,000 after acquiring an additional 342,800 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of New Oriental Education & Technology Group by 20,215.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after acquiring an additional 989,536 shares during the period. JPMorgan Chase & Co. increased its stake in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after purchasing an additional 543,810 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in New Oriental Education & Technology Group by 20.4% during the third quarter. Citigroup Inc. now owns 803,508 shares of the company’s stock worth $60,938,000 after purchasing an additional 136,138 shares during 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.