New Oriental Education & Technology Group (NYSE:EDU) Cut to D at TheStreet

TheStreet downgraded shares of New Oriental Education & Technology Group (NYSE:EDUGet Rating) from a c- rating to a d rating in a research report sent to investors on Monday, TheStreetRatingsTable reports.

A number of other equities analysts have also commented on EDU. Bank of America upgraded shares of New Oriental Education & Technology Group from a neutral rating to a buy rating and boosted their price target for the company from $18.80 to $36.60 in a research report on Friday, July 29th. StockNews.com began coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 12th. They issued a hold rating for the company. Finally, Macquarie raised shares of New Oriental Education & Technology Group from a neutral rating to an outperform rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of Moderate Buy and an average price target of $36.60.

New Oriental Education & Technology Group Trading Down 0.3 %

Shares of New Oriental Education & Technology Group stock opened at $26.01 on Monday. New Oriental Education & Technology Group has a twelve month low of $8.40 and a twelve month high of $29.89. The firm’s 50-day simple moving average is $24.90 and its 200-day simple moving average is $22.32.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. The firm had revenue of $744.80 million during the quarter, compared to analyst estimates of $689.08 million. The business’s revenue was down 43.1% compared to the same quarter last year. On average, equities analysts forecast that New Oriental Education & Technology Group will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of New Oriental Education & Technology Group by 18.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,823 shares of the company’s stock worth $55,000 after buying an additional 7,300 shares during the last quarter. US Bancorp DE raised its stake in shares of New Oriental Education & Technology Group by 29.2% during the second quarter. US Bancorp DE now owns 7,509 shares of the company’s stock worth $154,000 after buying an additional 1,696 shares during the last quarter. Carmignac Gestion raised its stake in shares of New Oriental Education & Technology Group by 187.6% during the first quarter. Carmignac Gestion now owns 43,110,546 shares of the company’s stock worth $49,647,000 after buying an additional 28,122,503 shares during the last quarter. Granite Point Capital Management L.P. bought a new stake in shares of New Oriental Education & Technology Group during the second quarter worth approximately $509,000. Finally, Discerene Group LP raised its stake in shares of New Oriental Education & Technology Group by 3.2% during the first quarter. Discerene Group LP now owns 13,207,692 shares of the company’s stock worth $15,189,000 after buying an additional 413,500 shares during the last quarter. 45.81% of the stock is owned by institutional investors.

New Oriental Education & Technology Group Company Profile

(Get Rating)

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 Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.

Further Reading

Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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