New Oriental Education & Technology Group (NYSE:EDU) Lowered to Underperform Rating by Macquarie

Macquarie cut shares of New Oriental Education & Technology Group (NYSE:EDU) from an outperform rating to an underperform rating in a research report sent to investors on Wednesday, MarketBeat.com reports. Macquarie currently has $44.00 target price on the stock, down from their prior target price of $79.00.

Other research analysts have also issued reports about the company. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $50.00 in a research note on Wednesday. Finally, Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.40.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock opened at $46.22 on Wednesday. The stock has a market cap of $7.84 billion, a P/E ratio of 19.75 and a beta of 0.44. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $98.20. The stock has a fifty day moving average price of $60.38 and a 200 day moving average price of $65.06.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. Equities research analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fiera Capital Corp increased its position in shares of New Oriental Education & Technology Group by 19.8% during the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock worth $3,896,000 after purchasing an additional 8,499 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of New Oriental Education & Technology Group by 192.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after purchasing an additional 543,810 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of New Oriental Education & Technology Group by 3.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after acquiring an additional 19,401 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in New Oriental Education & Technology Group by 12.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock valued at $7,573,000 after acquiring an additional 11,423 shares during the period. Finally, Monolith Management Ltd bought a new stake in New Oriental Education & Technology Group in the 3rd quarter valued at $15,168,000.

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.