New Oriental Education & Technology Group (NYSE:EDU) Lowered to Neutral Rating by Citigroup

Citigroup cut shares of New Oriental Education & Technology Group (NYSE:EDU) from a buy rating to a neutral rating in a research note issued to investors on Friday, Marketbeat.com reports. Citigroup currently has $50.00 price objective on the stock, down from their prior price objective of $83.00.

A number of other research firms also recently weighed in on EDU. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $50.00 in a research note on Wednesday. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $83.00 to $52.00 in a research note on Wednesday. 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. Finally, Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $79.00 to $44.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Stock Down 0.1 %

EDU opened at $46.71 on Friday. The firm has a market capitalization of $7.93 billion, a P/E ratio of 19.88 and a beta of 0.44. The stock has a fifty day moving average of $60.03 and a 200-day moving average of $64.70. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $98.20.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Aspex Management HK Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after acquiring an additional 1,513,640 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in New Oriental Education & Technology Group by 23.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,823,200 shares of the company’s stock valued at $138,271,000 after purchasing an additional 342,800 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after buying an additional 989,536 shares in the last quarter. JPMorgan Chase & Co. grew its stake in New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after buying an additional 543,810 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of New Oriental Education & Technology Group by 20.4% during the third quarter. Citigroup Inc. now owns 803,508 shares of the company’s stock worth $60,938,000 after buying an additional 136,138 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

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.