New Oriental Education & Technology Group (NYSE:EDU) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on EDU. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Hsbc Global Res upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. China Renaissance raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. upped their price target on shares of New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $60.00 price target on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $65.84.

New Oriental Education & Technology Group Price Performance

EDU traded up $0.43 on Monday, hitting $63.94. 379,221 shares of the stock were exchanged, compared to its average volume of 1,075,685. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.06 and a beta of 0.27. New Oriental Education & Technology Group has a 12 month low of $40.66 and a 12 month high of $64.97. The business has a 50-day moving average of $55.66 and a two-hundred day moving average of $53.05.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.34 by $0.11. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Equities research analysts expect that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several large investors have recently added to or reduced their stakes in the business. Swedbank AB grew its position in shares of New Oriental Education & Technology Group by 52.0% during the 4th quarter. Swedbank AB now owns 35,651 shares of the company’s stock worth $1,962,000 after buying an additional 12,200 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in New Oriental Education & Technology Group by 21.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 15,671 shares of the company’s stock valued at $862,000 after purchasing an additional 2,749 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in New Oriental Education & Technology Group in the fourth quarter valued at $220,000. Caitong International Asset Management Co. Ltd grew its stake in shares of New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after buying an additional 512 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in New Oriental Education & Technology Group in the 3rd quarter valued at about $220,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.