New Oriental Education & Technology Group (NYSE:EDU) Lowered to “Underperform” Rating by Macquarie

Macquarie lowered shares of New Oriental Education & Technology Group (NYSE:EDU) from an outperform rating to an underperform rating in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have $44.00 price target on the stock, down from their previous price target of $79.00.

EDU has been the subject of several other research reports. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $50.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group has a consensus rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock opened at $46.71 on Wednesday. The business has a 50 day simple moving average of $60.03 and a 200 day simple moving average of $64.70. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.88 and a beta of 0.44. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (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 firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. New Oriental Education & Technology Group’s revenue was up 30.5% compared to the same quarter last year. On average, equities analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EDU. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares in the last quarter. Blue Trust Inc. boosted its position in New Oriental Education & Technology Group by 155.5% during the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after purchasing an additional 1,249 shares during the last quarter. Hancock Whitney Corp acquired a new position in New Oriental Education & Technology Group in the 2nd quarter worth about $212,000. SG Americas Securities LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth about $272,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter valued at about $297,000.

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.