New Oriental Education & Technology Group (NYSE:EDU) Shares Up 5.1% – Time to Buy?

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price traded up 5.1% during trading on Tuesday . The company traded as high as $63.07 and last traded at $62.95. 310,610 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,838,436 shares. The stock had previously closed at $59.92.

Analyst Ratings Changes

A number of brokerages recently weighed in on EDU. 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 target price on New Oriental Education & Technology Group in a research note on Thursday, October 17th.

New Oriental Education & Technology Group Stock Performance

The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 27.22 and a beta of 0.47. The business has a fifty day simple moving average of $65.13 and a 200 day simple moving average of $69.33.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company’s revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently modified their holdings of the company. Aspex Management HK Ltd boosted its stake 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 purchasing an additional 1,513,640 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 valued at $75,418,000 after acquiring an additional 989,536 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of New Oriental Education & Technology Group by 139.0% during the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after purchasing an additional 854,590 shares during the period. Millennium Management LLC grew its stake in shares of New Oriental Education & Technology Group by 147.5% in the second 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 last quarter. Finally, Thornburg Investment Management Inc. increased its holdings in New Oriental Education & Technology Group by 211.7% in the second quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company’s stock valued at $43,058,000 after purchasing an additional 376,036 shares during the period.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.