New Oriental Education & Technology Group (NYSE:EDU) Cut to Underperform at Macquarie

Macquarie lowered shares of New Oriental Education & Technology Group (NYSE:EDU) from an outperform rating to an underperform rating in a research report released on Wednesday morning, Marketbeat reports. The brokerage currently has $44.00 target price on the stock, down from their prior target price of $79.00.

Several other analysts have also issued reports on EDU. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $50.00 in a report on Wednesday. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $72.40.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $46.22 on Wednesday. The stock’s fifty day moving average price is $60.38 and its two-hundred day moving average price is $65.06. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $98.20. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 19.75 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. The company had revenue of $1.44 billion for 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%. New Oriental Education & Technology Group’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. On average, equities analysts anticipate that New Oriental Education & Technology Group will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of hedge funds have recently added to or reduced their stakes in the company. Aspex Management HK Ltd boosted its position in shares of New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after buying an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of New Oriental Education & Technology Group by 20,215.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after buying an additional 989,536 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after buying an additional 543,810 shares during the last quarter. Millennium Management LLC boosted its position in shares of New Oriental Education & Technology Group by 147.5% during the second quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after buying an additional 436,098 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of New Oriental Education & Technology Group during the third quarter valued at approximately $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.