New Oriental Education & Technology Group (NYSE:EDU) Hits New 12-Month Low – Here’s Why

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $50.67 and last traded at $45.74, with a volume of 790110 shares traded. The stock had previously closed at $60.84.

Analysts Set New Price Targets

EDU has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $83.00 to $52.00 in a research report on Wednesday. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $79.00 to $44.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $50.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.40.

New Oriental Education & Technology Group Trading Down 1.1 %

The firm has a market cap of $7.84 billion, a P/E ratio of 19.67 and a beta of 0.44. The company’s 50 day simple moving average is $60.38 and its 200-day simple moving average is $65.06.

New Oriental Education & Technology Group (NYSE:EDU) last posted 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 business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.38%. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. On average, sell-side analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of EDU. Aspex Management HK Ltd lifted its stake in New Oriental Education & Technology Group by 46.7% during 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 during the period. JPMorgan Chase & Co. lifted its stake in shares of 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 worth $62,703,000 after purchasing an additional 543,810 shares during the period. Millennium Management LLC lifted its stake in shares of New Oriental Education & Technology Group by 147.5% in 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 during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of New Oriental Education & Technology Group in the 3rd quarter worth approximately $27,425,000.

New Oriental Education & Technology Group Company Profile

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.