Morgan Stanley Downgrades New Oriental Education & Technology Group (NYSE:EDU) to Equal Weight

Morgan Stanley downgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from an overweight rating to an equal weight rating in a research note published on Wednesday, MarketBeat.com reports. Morgan Stanley currently has $52.00 price objective on the stock, down from their previous price objective of $83.00.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $50.00 in a research report on Wednesday. Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price target for the company from $79.00 to $44.00 in a report on Wednesday. Finally, StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock opened at $46.71 on Wednesday. New Oriental Education & Technology Group has a 1 year low of $44.46 and a 1 year high of $98.20. The company has a market capitalization of $7.93 billion, a P/E ratio of 19.88 and a beta of 0.44. The business has a 50-day moving average of $60.03 and a two-hundred day moving average of $64.70.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. On average, equities analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 worth $126,000 after purchasing an additional 206 shares during the last quarter. Blue Trust Inc. increased its holdings in New Oriental Education & Technology Group by 155.5% during the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock worth $160,000 after buying an additional 1,249 shares during the last quarter. Hancock Whitney Corp bought a new stake in New Oriental Education & Technology Group during the second quarter worth $212,000. Oppenheimer Asset Management Inc. acquired a new stake in New Oriental Education & Technology Group in the third quarter valued at $297,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of New Oriental Education & Technology Group during the 3rd quarter worth about $316,000.

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.