New Oriental Education & Technology Group (NYSE:EDU) Cut to Underperform at Macquarie

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

A number of other analysts have also issued reports on EDU. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $50.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Price Performance

NYSE:EDU opened at $46.71 on Wednesday. The firm has a 50-day moving average of $60.03 and a two-hundred day moving average of $64.70. The stock has a market cap of $7.93 billion, a P/E ratio of 19.88 and a beta of 0.44. New Oriental Education & Technology Group has a 1-year low of $44.46 and a 1-year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data 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 return on equity of 9.48% and a net margin of 8.13%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm earned $0.99 EPS. New Oriental Education & Technology Group’s quarterly revenue was up 30.5% on a year-over-year basis. As a group, equities analysts expect that New Oriental Education & Technology Group will post 2.94 earnings per share for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently modified their holdings of the business. Sei Investments Co. boosted its stake in New Oriental Education & Technology Group by 6.5% in the second quarter. Sei Investments Co. now owns 190,302 shares of the company’s stock valued at $14,792,000 after acquiring an additional 11,622 shares during the period. Hancock Whitney Corp bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $212,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in New Oriental Education & Technology Group during the 2nd quarter valued at approximately $15,274,000. Point72 Asset Management L.P. grew its stake in New Oriental Education & Technology Group by 26.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 686,400 shares of the company’s stock worth $53,354,000 after buying an additional 145,200 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its position in New Oriental Education & Technology Group by 16.6% in the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock worth $107,283,000 after buying an additional 196,133 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.