New Oriental Education & Technology Group (NYSE:EDU) Hits New 12-Month Low – What’s Next?

New Oriental Education & Technology Group Inc. (NYSE:EDU) reached a new 52-week low on Wednesday . The stock traded as low as $57.20 and last traded at $57.86, with a volume of 143097 shares. The stock had previously closed at $61.87.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EDU. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a report on Thursday, October 17th. Citigroup reduced their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.67.

New Oriental Education & Technology Group Trading Down 2.9 %

The company has a market capitalization of $10.20 billion, a P/E ratio of 26.46 and a beta of 0.49. The stock has a 50 day moving average price of $66.21 and a 200 day moving average price of $72.71.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. On average, research analysts predict that New Oriental Education & Technology Group Inc. will post 2.85 EPS for the current year.

New Oriental Education & Technology Group Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors have recently modified their holdings of EDU. Price T Rowe Associates Inc. MD acquired a new position in New Oriental Education & Technology Group during the 1st quarter worth about $103,392,000. Farallon Capital Management LLC lifted its stake in shares of New Oriental Education & Technology Group by 139.0% in the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after acquiring an additional 854,590 shares during the period. Millennium Management LLC boosted its holdings in New Oriental Education & Technology Group by 147.5% in the second quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after acquiring an additional 436,098 shares during the last quarter. Thornburg Investment Management Inc. increased its position in New Oriental Education & Technology Group by 211.7% during the 2nd quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company’s stock valued at $43,058,000 after purchasing an additional 376,036 shares during the period. Finally, WT Asset Management Ltd raised its holdings in New Oriental Education & Technology Group by 21.4% during the 2nd quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock worth $134,533,000 after purchasing an additional 304,712 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.