New Oriental Education & Technology Group (NYSE:EDU) Hits New 12-Month Low – Here’s Why

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $50.67 and last traded at $45.74, with a volume of 790110 shares. The stock had previously closed at $60.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $79.00 to $44.00 in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $50.00 in a report on Wednesday. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $52.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.40.

New Oriental Education & Technology Group Stock Down 1.1 %

The business’s fifty day moving average is $60.38 and its two-hundred day moving average is $65.06. The stock has a market capitalization of $7.84 billion, a PE ratio of 19.67 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.38%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm posted $0.99 earnings per share. New Oriental Education & Technology Group’s revenue for the quarter was up 30.5% compared to the same quarter last year. Sell-side analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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. Blue Trust Inc. grew its holdings in shares of New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares in the last quarter. ABS Direct Equity Fund LLC grew its holdings in shares of New Oriental Education & Technology Group by 17.5% in the third quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock valued at $561,000 after purchasing an additional 1,100 shares in the last quarter. Hancock Whitney Corp lifted its position in New Oriental Education & Technology Group by 49.4% in the third quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock worth $309,000 after buying an additional 1,348 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in New Oriental Education & Technology Group by 11.9% during the third quarter. Janus Henderson Group PLC now owns 30,895 shares of the company’s stock worth $2,342,000 after buying an additional 3,287 shares during the period.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.