New Oriental Education & Technology Group (NYSE:EDU) Shares Down 3.1%

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) traded down 3.1% during mid-day trading on Friday . The company traded as low as $79.26 and last traded at $79.85. 103,859 shares traded hands during trading, a decline of 94% from the average session volume of 1,710,811 shares. The stock had previously closed at $82.38.

Analyst Ratings Changes

A number of equities analysts have recently commented on EDU shares. HSBC began coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They set a “buy” rating and a $110.00 price objective for the company. Morgan Stanley raised their target price on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Citigroup raised their price objective on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group has a consensus rating of “Moderate Buy” and an average price target of $100.75.

New Oriental Education & Technology Group Stock Down 3.0 %

The company’s fifty day moving average price is $79.64 and its 200 day moving average price is $82.21. The company has a market capitalization of $13.57 billion, a P/E ratio of 44.29 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, April 24th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.06). New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.09 billion. Research analysts predict that New Oriental Education & Technology Group Inc. will post 1.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assetmark Inc. increased its holdings in New Oriental Education & Technology Group by 1,642.9% in the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after purchasing an additional 575 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in shares of New Oriental Education & Technology Group in the first quarter valued at about $231,000. Jump Financial LLC acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at about $235,000. Panagora Asset Management Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at about $240,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at about $271,000.

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.