New Oriental Education & Technology Group (NYSE:EDU) Trading Down 4.6%

New Oriental Education & Technology Group Inc. (NYSE:EDU) traded down 4.6% during mid-day trading on Thursday . The company traded as low as $73.61 and last traded at $73.82. 493,881 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,729,332 shares. The stock had previously closed at $77.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HSBC assumed coverage on shares of New Oriental Education & Technology Group in a report on Wednesday, May 29th. They issued a “buy” rating and a $110.00 target price on the stock. Morgan Stanley increased their price target on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Citigroup increased their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.75.

New Oriental Education & Technology Group Stock Performance

The business has a 50 day simple moving average of $79.85 and a 200-day simple moving average of $82.15. The stock has a market capitalization of $13.20 billion, a P/E ratio of 41.81 and a beta of 0.48.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.09 billion. New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. Equities research analysts forecast that New Oriental Education & Technology Group Inc. will post 1.86 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds have recently modified their holdings of EDU. Claro Advisors LLC raised its holdings in shares of New Oriental Education & Technology Group by 5.3% during the first quarter. Claro Advisors LLC now owns 3,797 shares of the company’s stock worth $330,000 after acquiring an additional 191 shares in the last quarter. Assetmark Inc. raised its holdings in shares of New Oriental Education & Technology Group by 1,642.9% during the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after acquiring an additional 575 shares in the last quarter. Dfpg Investments LLC raised its holdings in shares of New Oriental Education & Technology Group by 7.3% during the fourth quarter. Dfpg Investments LLC now owns 11,674 shares of the company’s stock worth $852,000 after acquiring an additional 793 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of New Oriental Education & Technology Group by 12.8% during the fourth quarter. Ritholtz Wealth Management now owns 15,221 shares of the company’s stock worth $1,115,000 after acquiring an additional 1,729 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in New Oriental Education & Technology Group by 2.5% during the third quarter. Lazard Asset Management LLC now owns 79,073 shares of the company’s stock valued at $4,629,000 after buying an additional 1,896 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

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.