New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives Average Recommendation of “Hold” from Brokerages

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $56.8667.

EDU has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 8th. The Goldman Sachs Group cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $58.00 to $50.00 in a research note on Wednesday, August 6th. HSBC cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Hsbc Global Res upgraded shares of New Oriental Education & Technology Group to a “hold” rating in a report on Wednesday, July 30th. Finally, Bank of America lifted their price target on shares of New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a report on Monday, September 29th.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of EDU. Janney Montgomery Scott LLC bought a new stake in New Oriental Education & Technology Group in the 1st quarter valued at $448,000. Robeco Institutional Asset Management B.V. increased its holdings in New Oriental Education & Technology Group by 7.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 32,397 shares of the company’s stock valued at $1,549,000 after acquiring an additional 2,239 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in New Oriental Education & Technology Group by 3,276.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company’s stock valued at $50,507,000 after acquiring an additional 1,025,130 shares during the last quarter. KBC Group NV bought a new stake in New Oriental Education & Technology Group in the 1st quarter valued at $192,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of New Oriental Education & Technology Group in the 1st quarter worth about $344,000.

New Oriental Education & Technology Group Stock Performance

EDU opened at $58.71 on Friday. New Oriental Education & Technology Group has a fifty-two week low of $40.66 and a fifty-two week high of $68.53. The firm’s fifty day moving average is $52.62 and its 200 day moving average is $49.64. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.94 and a beta of 0.27.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, July 30th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.37. New Oriental Education & Technology Group had a net margin of 7.59% and a return on equity of 11.32%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.22 EPS. New Oriental Education & Technology Group’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that New Oriental Education & Technology Group will post 2.75 earnings per share for the current year.

New Oriental Education & Technology Group Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, December 5th. Shareholders of record on Tuesday, November 18th will be issued a $0.60 dividend. The ex-dividend date is Tuesday, November 18th.

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.