New Oriental Education & Technology Group (NYSE:EDU) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a hold rating to a sell rating in a research note released on Monday.

Separately, Citigroup dropped their target price on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, New Oriental Education & Technology Group has a consensus rating of “Moderate Buy” and an average target price of $103.67.

New Oriental Education & Technology Group Stock Up 0.1 %

EDU opened at $69.65 on Monday. The firm has a market cap of $11.82 billion, a PE ratio of 37.45 and a beta of 0.47. The business has a fifty day simple moving average of $67.44 and a 200-day simple moving average of $74.97. New Oriental Education & Technology Group has a fifty-two week low of $58.45 and a fifty-two week high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. On average, equities research analysts anticipate that New Oriental Education & Technology Group will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD acquired a new stake in shares of New Oriental Education & Technology Group during the first quarter worth approximately $103,392,000. Farallon Capital Management LLC boosted its stake in shares of New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after buying an additional 854,590 shares during the period. Millennium Management LLC grew its holdings 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 valued at $56,880,000 after acquiring an additional 436,098 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth $27,580,000. Finally, Thornburg Investment Management Inc. increased its stake in shares of New Oriental Education & Technology Group by 211.7% in the second quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company’s stock worth $43,058,000 after acquiring an additional 376,036 shares during the last quarter.

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.