New Oriental Education & Technology Group, Inc. (NYSE:EDU) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $93.29 and last traded at $93.65, with a volume of 1,327,901 shares. The stock had previously closed at $91.01.

Several research analysts have recently commented on EDU shares. Goldman Sachs Group, Inc. (The) upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a report on Tuesday, May 16th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $62.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, May 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $74.80 price objective on shares of New Oriental Education & Technology Group in a report on Friday, July 14th. Zacks Investment Research raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Tuesday, July 18th. Finally, BidaskClub cut New Oriental Education & Technology Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.32.

The stock has a 50 day moving average of $81.14 and a 200-day moving average of $69.92. The firm has a market cap of $14.73 billion, a P/E ratio of 53.698 and a beta of 1.37.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). New Oriental Education & Technology Group had a return on equity of 17.02% and a net margin of 15.25%. The firm had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $477.81 million. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts predict that New Oriental Education & Technology Group, Inc. will post $2.38 EPS for the current fiscal year.

The company also recently disclosed a special dividend, which will be paid on Friday, October 6th. Investors of record on Wednesday, September 6th will be given a $0.45 dividend. This is a positive change from New Oriental Education & Technology Group’s previous special dividend of $0.40. The ex-dividend date is Friday, September 1st.

A number of institutional investors have recently bought and sold shares of the stock. Tairen Capital Ltd raised its position in New Oriental Education & Technology Group by 8.3% in the 2nd quarter. Tairen Capital Ltd now owns 1,890,988 shares of the company’s stock worth $133,296,000 after purchasing an additional 145,192 shares during the period. Nomura Holdings Inc. purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter worth about $1,259,000. Bank of Nova Scotia purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter worth about $1,903,000. Raymond James Financial Services Advisors Inc. raised its position in New Oriental Education & Technology Group by 5.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 3,585 shares of the company’s stock worth $253,000 after purchasing an additional 182 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in New Oriental Education & Technology Group by 118.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,078 shares of the company’s stock worth $922,000 after purchasing an additional 7,091 shares during the period. 76.33% of the stock is currently owned by institutional investors.

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About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

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