New Oriental Education & Tech Grp (EDU) Trading Down 5.2%

New Oriental Education & Tech Grp (NYSE:EDU) was down 5.2% during trading on Friday . The stock traded as low as $57.09 and last traded at $57.40. Approximately 1,802,718 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 1,813,901 shares. The stock had previously closed at $60.52.

Several equities research analysts have recently commented on EDU shares. Zacks Investment Research downgraded shares of New Oriental Education & Tech Grp from a “buy” rating to a “sell” rating in a research note on Wednesday, July 25th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 26th. ValuEngine downgraded shares of New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Morgan Stanley downgraded shares of New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 2nd. Finally, CLSA upgraded shares of New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a research note on Monday, October 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. New Oriental Education & Tech Grp has a consensus rating of “Hold” and an average price target of $88.00.

The company has a market cap of $8.64 billion, a P/E ratio of 30.70, a price-to-earnings-growth ratio of 0.95 and a beta of 1.38.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its earnings results on Tuesday, October 23rd. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.02. New Oriental Education & Tech Grp had a net margin of 9.86% and a return on equity of 15.47%. The company had revenue of $859.80 million for the quarter, compared to the consensus estimate of $839.68 million. During the same quarter in the previous year, the company earned $1.02 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, sell-side analysts forecast that New Oriental Education & Tech Grp will post 1.94 earnings per share for the current year.

New Oriental Education & Tech Grp declared that its board has initiated a share buyback plan on Tuesday, October 23rd that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently added to or reduced their stakes in EDU. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of New Oriental Education & Tech Grp by 50.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,797 shares of the company’s stock valued at $245,000 after buying an additional 937 shares during the last quarter. LPL Financial LLC raised its holdings in New Oriental Education & Tech Grp by 58.1% during the 1st quarter. LPL Financial LLC now owns 9,779 shares of the company’s stock worth $857,000 after purchasing an additional 3,594 shares during the last quarter. Royal Bank of Canada raised its holdings in New Oriental Education & Tech Grp by 181.0% during the 1st quarter. Royal Bank of Canada now owns 87,940 shares of the company’s stock worth $7,707,000 after purchasing an additional 56,640 shares during the last quarter. DnB Asset Management AS bought a new stake in New Oriental Education & Tech Grp during the 2nd quarter worth about $988,000. Finally, Handelsbanken Fonder AB raised its holdings in New Oriental Education & Tech Grp by 31.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 161,216 shares of the company’s stock worth $15,261,000 after purchasing an additional 38,216 shares during the last quarter. 89.88% of the stock is owned by institutional investors and hedge funds.

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New Oriental Education & Tech Grp Company Profile (NYSE:EDU)

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.

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