New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Should You Sell?

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price gapped down before the market opened on Monday . The stock had previously closed at $61.03, but opened at $58.69. New Oriental Education & Technology Group shares last traded at $59.90, with a volume of 141,515 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EDU. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th.

New Oriental Education & Technology Group Trading Down 0.9 %

The stock has a market cap of $10.06 billion, a P/E ratio of 25.33 and a beta of 0.46. The company’s 50-day simple moving average is $62.91 and its 200 day simple moving average is $68.08.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. Research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several institutional investors have recently bought and sold shares of the company. Farallon Capital Management LLC increased its position in New Oriental Education & Technology Group by 139.0% in the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares during the last quarter. Fiera Capital Corp grew its stake in shares of New Oriental Education & Technology Group by 19.8% during the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock worth $3,896,000 after acquiring an additional 8,499 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of New Oriental Education & Technology Group by 3.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after acquiring an additional 19,401 shares during the period. Monolith Management Ltd bought a new stake in New Oriental Education & Technology Group in the 3rd quarter valued at about $15,168,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in New Oriental Education & Technology Group by 12.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock valued at $7,573,000 after purchasing an additional 11,423 shares during the last quarter.

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.