New Oriental Education & Technology Group (NYSE:EDU) Stock Price Down 3.4% – Should You Sell?

New Oriental Education & Technology Group Inc. (NYSE:EDU) dropped 3.4% during mid-day trading on Friday . The stock traded as low as $60.10 and last traded at $60.42. Approximately 128,145 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,852,048 shares. The stock had previously closed at $62.53.

Analyst Ratings Changes

EDU has been the subject of several research reports. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Performance

The firm has a 50 day simple moving average of $63.30 and a two-hundred day simple moving average of $68.36. The firm has a market capitalization of $10.36 billion, a P/E ratio of 26.08 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $0.99 EPS. The business’s revenue was up 30.5% on a year-over-year basis. Sell-side analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 worth $126,000 after purchasing an additional 206 shares during the period. Beverly Hills Private Wealth LLC raised its stake in shares of New Oriental Education & Technology Group by 5.7% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock worth $326,000 after purchasing an additional 227 shares during the period. Profund Advisors LLC raised its stake in shares of New Oriental Education & Technology Group by 1.4% during the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock worth $1,344,000 after purchasing an additional 231 shares during the period. Ridgewood Investments LLC bought a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth $43,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth $50,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.