New Oriental Education & Technology Group (NYSE:EDU) Shares Up 10.5%

New Oriental Education & Technology Group Inc. (NYSE:EDUGet Rating)’s stock price shot up 10.5% during trading on Thursday . The company traded as high as $28.67 and last traded at $28.43. 220,546 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 3,723,383 shares. The stock had previously closed at $25.74.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EDU. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. CICC Research upgraded shares of New Oriental Education & Technology Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 14th. UBS Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a research note on Monday, June 6th. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating in a report on Monday, June 13th. Finally, Macquarie upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

New Oriental Education & Technology Group Trading Up 13.1 %

The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 11.91 and a beta of 0.37. The stock’s 50 day moving average price is $18.76 and its two-hundred day moving average price is $15.12.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.97). The business had revenue of $524.00 million for the quarter, compared to the consensus estimate of $544.92 million. The business’s revenue was down 56.7% compared to the same quarter last year. On average, sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 1.79 earnings per share for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds have recently made changes to their positions in EDU. Legacy Wealth Asset Management LLC acquired a new position in New Oriental Education & Technology Group in the second quarter worth $206,000. Icapital Wealth LLC bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at about $35,000. DGS Capital Management LLC bought a new stake in New Oriental Education & Technology Group in the fourth quarter worth about $46,000. Eaton Vance Management raised its position in New Oriental Education & Technology Group by 306.7% in the first quarter. Eaton Vance Management now owns 22,543 shares of the company’s stock worth $26,000 after acquiring an additional 17,000 shares in the last quarter. Finally, JJJ Advisors Inc. raised its position in New Oriental Education & Technology Group by 56.1% in the fourth quarter. JJJ Advisors Inc. now owns 28,415 shares of the company’s stock worth $60,000 after acquiring an additional 10,208 shares in the last quarter.

About New Oriental Education & Technology Group

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New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.

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