New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Here’s What Happened

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $61.03, but opened at $58.69. New Oriental Education & Technology Group shares last traded at $59.90, with a volume of 141,515 shares.

Wall Street Analyst Weigh In

EDU has been the topic of a number of recent research reports. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

New Oriental Education & Technology Group Price Performance

The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 26.08 and a beta of 0.46. The firm’s fifty day moving average is $63.30 and its 200-day moving average is $68.25.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. New Oriental Education & Technology Group’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. As a group, equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after purchasing an additional 206 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in New Oriental Education & Technology Group by 5.7% in the second quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock valued at $326,000 after purchasing an additional 227 shares in the last quarter. Profund Advisors LLC increased its stake in New Oriental Education & Technology Group by 1.4% in the second quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock valued at $1,344,000 after purchasing an additional 231 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of New Oriental Education & Technology Group during the second quarter worth about $43,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of New Oriental Education & Technology Group during the second quarter worth about $50,000.

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.