New Oriental Education & Technology Group (NYSE:EDU) Rating Lowered to Neutral at Citigroup

Citigroup cut shares of New Oriental Education & Technology Group (NYSE:EDU) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. They currently have $50.00 target price on the stock, down from their prior target price of $83.00.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $50.00 in a research report on Wednesday. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $79.00 to $44.00 in a research note on Wednesday. Finally, Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $52.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU opened at $46.71 on Friday. The company has a 50 day moving average of $60.03 and a 200-day moving average of $64.70. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $98.20. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 19.88 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The firm’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. Equities research analysts anticipate that New Oriental Education & Technology Group will post 2.94 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors have recently added to or reduced their stakes in the company. Aspex Management HK Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after buying an additional 1,513,640 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in New Oriental Education & Technology Group by 20,215.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after purchasing an additional 989,536 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after purchasing an additional 543,810 shares during the period. Millennium Management LLC grew its position in shares of New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock worth $56,880,000 after purchasing an additional 436,098 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of New Oriental Education & Technology Group during the third quarter worth approximately $27,425,000.

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.