New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down to $89.59

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $89.59, but opened at $84.54. New Oriental Education & Technology Group shares last traded at $73.90, with a volume of 3,153,898 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on EDU. Morgan Stanley raised their target price on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th.

New Oriental Education & Technology Group Price Performance

The firm’s fifty day simple moving average is $89.76 and its 200 day simple moving average is $78.83. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 42.02 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.23). The company had revenue of $869.60 million for the quarter, compared to analyst estimates of $814.01 million. New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share. Equities research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in New Oriental Education & Technology Group by 92.7% in the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock valued at $388,274,000 after acquiring an additional 3,189,254 shares during the last quarter. Schroder Investment Management Group lifted its stake in New Oriental Education & Technology Group by 22.8% in the third quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock valued at $239,730,000 after acquiring an additional 760,062 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in New Oriental Education & Technology Group by 37.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock valued at $173,997,000 after acquiring an additional 646,122 shares during the last quarter. WT Asset Management Ltd lifted its stake in New Oriental Education & Technology Group by 48.9% in the third quarter. WT Asset Management Ltd now owns 1,899,128 shares of the company’s stock valued at $111,194,000 after acquiring an additional 623,435 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in New Oriental Education & Technology Group by 141.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock valued at $117,892,000 after acquiring an additional 942,392 shares during the last quarter.

About New Oriental Education & Technology Group

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 four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.