Russell Investments Group Ltd. Increases Stake in New Oriental Education & Tech Grp (EDU)

Russell Investments Group Ltd. grew its holdings in New Oriental Education & Tech Grp (NYSE:EDU) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 264,161 shares of the company’s stock after buying an additional 2,541 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of New Oriental Education & Tech Grp worth $19,461,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EDU. Coronation Fund Managers Ltd. acquired a new stake in New Oriental Education & Tech Grp in the third quarter worth about $115,983,000. Canada Pension Plan Investment Board increased its position in New Oriental Education & Tech Grp by 352.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,062,605 shares of the company’s stock worth $100,586,000 after purchasing an additional 827,958 shares during the period. Schroder Investment Management Group increased its position in New Oriental Education & Tech Grp by 7.6% in the second quarter. Schroder Investment Management Group now owns 6,383,548 shares of the company’s stock worth $599,288,000 after purchasing an additional 452,870 shares during the period. BlackRock Inc. increased its position in New Oriental Education & Tech Grp by 4.2% in the second quarter. BlackRock Inc. now owns 6,786,748 shares of the company’s stock worth $642,432,000 after purchasing an additional 276,215 shares during the period. Finally, Zeal Asset Management Ltd acquired a new stake in New Oriental Education & Tech Grp in the second quarter worth about $24,953,000. Institutional investors own 89.88% of the company’s stock.

A number of analysts recently commented on EDU shares. Nomura lowered their price objective on New Oriental Education & Tech Grp from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Benchmark lowered their price objective on New Oriental Education & Tech Grp from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. CLSA upgraded New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a research report on Monday, October 15th. Morgan Stanley lowered New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 2nd. Finally, ValuEngine upgraded New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $88.00.

New Oriental Education & Tech Grp stock opened at $61.17 on Thursday. The stock has a market cap of $8.64 billion, a PE ratio of 31.25, a P/E/G ratio of 0.95 and a beta of 1.38. New Oriental Education & Tech Grp has a 1 year low of $51.21 and a 1 year high of $108.40.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its earnings results on Tuesday, October 23rd. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.02. The company had revenue of $859.80 million during the quarter, compared to analyst estimates of $839.68 million. New Oriental Education & Tech Grp had a return on equity of 15.47% and a net margin of 9.86%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 EPS. Equities research analysts predict that New Oriental Education & Tech Grp will post 1.94 earnings per share for the current fiscal year.

New Oriental Education & Tech Grp declared that its board has initiated a stock buyback program on Tuesday, October 23rd that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “Russell Investments Group Ltd. Increases Stake in New Oriental Education & Tech Grp (EDU)” was originally published by WKRB News and is the sole property of of WKRB News. If you are accessing this report on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The correct version of this report can be read at https://www.wkrb13.com/2018/11/08/russell-investments-group-ltd-increases-stake-in-new-oriental-education-tech-grp-edu.html.

New Oriental Education & Tech Grp Profile

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 Language Training and Test Preparation Courses, 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 achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

Further Reading: Float

Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

Receive News & Ratings for New Oriental Education & Tech Grp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Tech Grp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply