New Oriental Education & Technology Group (NYSE:EDU) Downgraded to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group (NYSE:EDU) from an overweight rating to a neutral rating in a report released on Wednesday morning, Marketbeat reports. The brokerage currently has $50.00 price objective on the stock, down from their previous price objective of $85.00.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised 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 report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Hold” and a consensus price target of $72.40.

New Oriental Education & Technology Group Stock Down 1.1 %

EDU stock opened at $46.22 on Wednesday. The company has a market capitalization of $7.84 billion, a P/E ratio of 19.75 and a beta of 0.44. The company has a 50-day simple moving average of $60.38 and a 200 day simple moving average of $65.06. New Oriental Education & Technology Group has a fifty-two week low of $44.46 and a fifty-two week high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate 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 net margin of 8.38% and a return on equity of 9.43%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. Equities analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of EDU. Aspex Management HK Ltd lifted its holdings in New Oriental Education & Technology Group by 46.7% in the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after acquiring an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in New Oriental Education & Technology Group by 20,215.2% during 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 buying an additional 989,536 shares during the period. JPMorgan Chase & Co. raised its holdings in New Oriental Education & Technology Group by 192.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after buying an additional 543,810 shares during the period. Millennium Management LLC raised its holdings in 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 buying an additional 436,098 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in New Oriental Education & Technology Group during the 3rd quarter worth about $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.