New Oriental Education & Technology Group (NYSE:EDU) Trading Down 3.4% – Time to Sell?

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares traded down 3.4% on Friday . The company traded as low as $60.10 and last traded at $60.42. 128,145 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,852,048 shares. The stock had previously closed at $62.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Trading Down 2.8 %

The stock’s fifty day moving average is $63.70 and its two-hundred day moving average is $68.57. The firm has a market cap of $10.31 billion, a P/E ratio of 26.72 and a beta of 0.46.

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

Hedge Funds Weigh In On New Oriental Education & Technology Group

Institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC purchased a new position in New Oriental Education & Technology Group in the second quarter worth $43,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $50,000. Blue Trust Inc. increased its position in shares of New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock valued at $62,000 after purchasing an additional 712 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after buying an additional 206 shares in the last quarter. Finally, Hancock Whitney Corp bought a new stake in New Oriental Education & Technology Group in the 2nd quarter worth approximately $212,000.

New Oriental Education & Technology Group Company Profile

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.