Published On: Mon, Sep 12th, 2016

New Oriental Education & Technology Group Inc. (EDU) Upgraded at Zacks Investment Research

New Oriental Education & Technology Group Inc. (NYSE:EDU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $50.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 11.68% from the company’s current price.
According to Zacks, “New Oriental is the largest provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of English and other foreign language training, test preparation courses for major admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education. New Oriental’s ADSs, each of which represents four common shares, currently trade on the New York Stock Exchange under the symbol ”EDU.” “
A number of other brokerages also recently commented on EDU. Nomura lifted their target price on shares of New Oriental Education & Technology Group from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, July 21st. T.H. Capital lifted their target price on shares of New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, July 21st. Brean Capital began coverage on shares of New Oriental Education & Technology Group in a research note on Thursday, July 21st. They set a “buy” rating and a $52.00 target price on the stock. Finally, Jefferies Group reaffirmed a “buy” rating and set a $50.00 target price on shares of New Oriental Education & Technology Group in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. New Oriental Education & Technology Group has a consensus rating of “Buy” and an average price target of $41.27.

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New Oriental Education & Technology Group (NYSE:EDU) traded up 1.31% during trading on Monday, hitting $44.77. 2,163,321 shares of the stock were exchanged. New Oriental Education & Technology Group has a 12 month low of $18.22 and a 12 month high of $45.37. The stock’s 50 day moving average price is $42.56 and its 200 day moving average price is $39.27. The stock has a market cap of $7.03 billion, a P/E ratio of 31.31 and a beta of 1.80.
New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, July 20th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. New Oriental Education & Technology Group had a net margin of 15.21% and a return on equity of 16.90%. The company had revenue of $394.90 million for the quarter, compared to the consensus estimate of $389.98 million. During the same period in the previous year, the firm earned $0.26 earnings per share. New Oriental Education & Technology Group’s quarterly revenue was up 20.1% compared to the same quarter last year. Analysts forecast that New Oriental Education & Technology Group will post $1.80 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in EDU. NN Investment Partners Holdings N.V. acquired a new position in shares of New Oriental Education & Technology Group during the first quarter worth $395,000. JPMorgan Chase & Co. boosted its position in shares of New Oriental Education & Technology Group by 119.2% in the first quarter. JPMorgan Chase & Co. now owns 317,716 shares of the company’s stock worth $10,991,000 after buying an additional 172,759 shares during the period. BlackRock Fund Advisors boosted its position in shares of New Oriental Education & Technology Group by 6.6% in the first quarter. BlackRock Fund Advisors now owns 894,548 shares of the company’s stock worth $30,942,000 after buying an additional 55,257 shares during the period. BlackRock Group LTD boosted its position in shares of New Oriental Education & Technology Group by 2.4% in the first quarter. BlackRock Group LTD now owns 844,412 shares of the company’s stock worth $29,209,000 after buying an additional 19,907 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of New Oriental Education & Technology Group by 47.7% in the first quarter. Prudential Financial Inc. now owns 961,766 shares of the company’s stock worth $33,267,000 after buying an additional 310,666 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.
New Oriental Education & Technology Group Company Profile
New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company offers a range of educational programs, services and products, consisting primarily of English and other foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.

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