New Oriental Education & Tech Grp (EDU) Shares Gap Up to $61.07

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New Oriental Education & Tech Grp (NYSE:EDU)’s share price gapped up before the market opened on Monday . The stock had previously closed at $57.32, but opened at $61.07. New Oriental Education & Tech Grp shares last traded at $62.84, with a volume of 3790037 shares trading hands.

Several equities analysts have recently weighed in on EDU shares. Morgan Stanley cut New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 2nd. ValuEngine cut New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. JPMorgan Chase & Co. upgraded New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating in a report on Thursday, July 26th. CLSA upgraded New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a report on Monday, October 15th. Finally, Zacks Investment Research cut New Oriental Education & Tech Grp from a “buy” rating to a “sell” rating in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $107.80.

The company has a market cap of $8.71 billion, a P/E ratio of 33.60, a P/E/G ratio of 0.82 and a beta of 1.15.

New Oriental Education & Tech Grp (NYSE:EDU) last released its earnings results on Tuesday, July 24th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $672.44 million. New Oriental Education & Tech Grp had a return on equity of 15.17% and a net margin of 12.10%. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, analysts expect that New Oriental Education & Tech Grp will post 2.58 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in shares of New Oriental Education & Tech Grp by 121.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,296 shares of the company’s stock worth $123,000 after purchasing an additional 711 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of New Oriental Education & Tech Grp during the 2nd quarter worth approximately $187,000. Wedbush Securities Inc. bought a new stake in shares of New Oriental Education & Tech Grp during the 2nd quarter worth approximately $218,000. Natixis bought a new stake in shares of New Oriental Education & Tech Grp during the 1st quarter worth approximately $222,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of New Oriental Education & Tech Grp by 50.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,797 shares of the company’s stock worth $245,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

New Oriental Education & Tech Grp Company Profile (NYSE:EDU)

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 Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.

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