New Oriental Education & Tech Grp (NYSE:EDU) Hits New 52-Week High After Strong Earnings

Shares of New Oriental Education & Tech Grp (NYSE:EDU) hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $121.40 and last traded at $110.73, with a volume of 341768 shares trading hands. The stock had previously closed at $116.56.

The company reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. New Oriental Education & Tech Grp had a net margin of 7.69% and a return on equity of 12.97%. New Oriental Education & Tech Grp’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company posted $1.16 EPS.

A number of research analysts recently weighed in on EDU shares. Zacks Investment Research raised shares of New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised shares of New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $88.00 to $143.00 in a research note on Thursday, October 17th. ValuEngine lowered shares of New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Citigroup reaffirmed a “buy” rating and issued a $130.00 price target (up from $115.00) on shares of New Oriental Education & Tech Grp in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $101.77.

A number of institutional investors have recently modified their holdings of the stock. Stonebridge Capital Advisors LLC purchased a new position in New Oriental Education & Tech Grp in the 2nd quarter worth approximately $29,000. Strategic Blueprint LLC purchased a new position in New Oriental Education & Tech Grp in the 3rd quarter worth approximately $31,000. LSV Asset Management purchased a new position in New Oriental Education & Tech Grp in the 2nd quarter worth approximately $38,000. Commonwealth Bank of Australia purchased a new position in New Oriental Education & Tech Grp in the 2nd quarter worth approximately $38,000. Finally, Coastal Investment Advisors Inc. lifted its stake in New Oriental Education & Tech Grp by 80.0% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 450 shares of the company’s stock worth $50,000 after purchasing an additional 200 shares in the last quarter. 86.46% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.71 and a current ratio of 1.73. The stock’s 50 day simple moving average is $111.55 and its two-hundred day simple moving average is $99.01. The firm has a market capitalization of $16.23 billion, a PE ratio of 72.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

About New Oriental Education & Tech Grp (NYSE:EDU)

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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