New Oriental Education & Tech Grp (NYSE:EDU) Receives $96.52 Consensus Target Price from Brokerages

Shares of New Oriental Education & Tech Grp (NYSE:EDU) have received an average rating of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $96.52.

EDU has been the topic of a number of recent research reports. CICC Research raised New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $92.97 price target on the stock in a research report on Wednesday, April 24th. Morgan Stanley raised their price objective on New Oriental Education & Tech Grp from $95.00 to $106.00 and gave the company a “positive” rating in a research report on Friday, June 14th. ValuEngine downgraded New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded New Oriental Education & Tech Grp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Nomura raised their price objective on New Oriental Education & Tech Grp from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, April 12th.

A number of hedge funds have recently modified their holdings of EDU. Rehmann Capital Advisory Group raised its stake in New Oriental Education & Tech Grp by 145.7% in the first quarter. Rehmann Capital Advisory Group now owns 312 shares of the company’s stock valued at $28,000 after buying an additional 185 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in shares of New Oriental Education & Tech Grp in the first quarter worth about $31,000. Cornerstone Advisors Inc. raised its stake in shares of New Oriental Education & Tech Grp by 96.5% in the first quarter. Cornerstone Advisors Inc. now owns 454 shares of the company’s stock worth $41,000 after purchasing an additional 223 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of New Oriental Education & Tech Grp in the first quarter worth about $45,000. Finally, Advisory Services Network LLC raised its stake in shares of New Oriental Education & Tech Grp by 31.1% in the fourth quarter. Advisory Services Network LLC now owns 876 shares of the company’s stock worth $48,000 after purchasing an additional 208 shares during the last quarter. 85.67% of the stock is currently owned by institutional investors.

Shares of EDU traded down $0.68 during midday trading on Friday, reaching $103.17. 1,185,380 shares of the stock were exchanged, compared to its average volume of 1,242,357. New Oriental Education & Tech Grp has a 52 week low of $50.30 and a 52 week high of $109.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.73 and a quick ratio of 1.71. The firm has a 50 day moving average price of $96.97. The company has a market capitalization of $14.87 billion, a P/E ratio of 68.78, a P/E/G ratio of 1.06 and a beta of 1.53.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.39). New Oriental Education & Tech Grp had a return on equity of 12.97% and a net margin of 7.69%. The firm had revenue of $842.90 million for the quarter, compared to the consensus estimate of $833.78 million. During the same period in the previous year, the company posted $0.55 EPS. New Oriental Education & Tech Grp’s quarterly revenue was up 20.2% compared to the same quarter last year. Analysts forecast that New Oriental Education & Tech Grp will post 3.02 earnings per share for the current fiscal year.

New Oriental Education & Tech Grp Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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Analyst Recommendations for New Oriental Education & Tech Grp (NYSE:EDU)

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