Analysts Set New Oriental Education & Technology Group, Inc. (NYSE:EDU) Target Price at $66.24

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $66.24.

EDU has been the subject of a number of recent analyst reports. New Street Research set a $65.00 price target on New Oriental Education & Technology Group in a report on Thursday, June 11th. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $67.00 to $65.00 in a report on Thursday, June 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st.

New Oriental Education & Technology Group Stock Up 1.7%

NYSE:EDU opened at $50.75 on Friday. The firm has a market cap of $8.02 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 0.69 and a beta of 0.19. New Oriental Education & Technology Group has a 12 month low of $41.62 and a 12 month high of $64.97. The company’s 50-day moving average price is $47.27 and its two-hundred day moving average price is $53.11.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $1.42 billion during the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. On average, research analysts expect that New Oriental Education & Technology Group will post 3.14 EPS for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EDU. Invesco Ltd. lifted its position in shares of New Oriental Education & Technology Group by 5,697.3% during the fourth quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock worth $253,738,000 after purchasing an additional 4,531,370 shares in the last quarter. Discerene Group LP increased its holdings in shares of New Oriental Education & Technology Group by 23.7% in the fourth quarter. Discerene Group LP now owns 1,955,430 shares of the company’s stock valued at $107,607,000 after purchasing an additional 374,916 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in New Oriental Education & Technology Group in the 4th quarter worth approximately $86,526,000. Orbis Allan Gray Ltd lifted its holdings in New Oriental Education & Technology Group by 40.2% during the 4th quarter. Orbis Allan Gray Ltd now owns 837,551 shares of the company’s stock worth $46,090,000 after buying an additional 240,053 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in New Oriental Education & Technology Group by 13,865.2% during the 4th quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock worth $40,846,000 after buying an additional 736,934 shares in the last quarter.

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.