New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – Still a Buy?

New Oriental Education & Technology Group, Inc. (NYSE:EDU) shares gapped up prior to trading on Tuesday . The stock had previously closed at $49.05, but opened at $51.98. New Oriental Education & Technology Group shares last traded at $54.20, with a volume of 908,706 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EDU shares. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $48.00 to $62.00 in a report on Tuesday. Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Finally, China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and a consensus price target of $52.00.

New Oriental Education & Technology Group Trading Down 1.6%

The firm has a 50 day simple moving average of $47.71 and a 200 day simple moving average of $50.99. The firm has a market capitalization of $9.27 billion, a PE ratio of 23.04 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 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 raised its stake in shares of New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock worth $478,456,000 after buying an additional 2,701,566 shares during the period. First Beijing Investment Ltd increased its holdings in New Oriental Education & Technology Group by 1,997.8% in the 1st quarter. First Beijing Investment Ltd now owns 5,456,378 shares of the company’s stock worth $260,869,000 after acquiring an additional 5,196,281 shares in the last quarter. FMR LLC raised its stake in New Oriental Education & Technology Group by 46.3% during the 4th quarter. FMR LLC now owns 4,539,678 shares of the company’s stock worth $291,357,000 after acquiring an additional 1,437,656 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in New Oriental Education & Technology Group by 61.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock valued at $249,952,000 after purchasing an additional 1,480,391 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of New Oriental Education & Technology Group by 17.2% in the fourth quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company’s stock worth $193,815,000 after purchasing an additional 442,656 shares during the period.

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.