Citigroup Inc. Grows Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Citigroup Inc. raised its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 20.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,508 shares of the company’s stock after buying an additional 136,138 shares during the quarter. Citigroup Inc. owned approximately 0.47% of New Oriental Education & Technology Group worth $60,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Natixis grew its holdings in New Oriental Education & Technology Group by 82.8% in the first quarter. Natixis now owns 5,484 shares of the company’s stock valued at $476,000 after purchasing an additional 2,484 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth $103,392,000. Artal Group S.A. purchased a new position in shares of New Oriental Education & Technology Group in the 1st quarter worth $1,302,000. Virtu Financial LLC acquired a new position in New Oriental Education & Technology Group in the first quarter valued at $1,220,000. Finally, Swedbank AB acquired a new position in New Oriental Education & Technology Group in the first quarter valued at $6,171,000.

New Oriental Education & Technology Group Stock Down 0.6 %

EDU opened at $57.36 on Friday. New Oriental Education & Technology Group Inc. has a 52-week low of $54.00 and a 52-week high of $98.20. The company has a 50 day moving average of $65.36 and a two-hundred day moving average of $70.54. The company has a market cap of $9.73 billion, a P/E ratio of 24.51 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. New Oriental Education & Technology Group’s revenue for the quarter was up 30.5% on a year-over-year basis. Research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EDU shares. Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Citigroup decreased their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.67.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.