New Oriental Education & Tech Grp (NYSE:EDU) Sets New 1-Year High on Strong Earnings

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

The company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.07. New Oriental Education & Tech Grp had a return on equity of 12.97% and a net margin of 7.69%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $1.16 EPS. New Oriental Education & Tech Grp’s revenue for the quarter was up 24.6% on a year-over-year basis.

EDU has been the topic of several recent analyst reports. ValuEngine cut New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upgraded New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $88.00 to $143.00 in a report on Thursday, October 17th. Benchmark reiterated a “buy” rating and set a $130.00 price objective (up previously from $128.00) on shares of New Oriental Education & Tech Grp in a report on Wednesday. Finally, Citigroup reiterated a “buy” rating and set a $130.00 price objective (up previously from $115.00) on shares of New Oriental Education & Tech Grp in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. New Oriental Education & Tech Grp has a consensus rating of “Buy” and an average target price of $104.55.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank lifted its stake in New Oriental Education & Tech Grp by 19.5% in the 2nd quarter. Huntington National Bank now owns 570 shares of the company’s stock valued at $55,000 after acquiring an additional 93 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in New Oriental Education & Tech Grp by 4.7% in the 2nd quarter. Wetherby Asset Management Inc. now owns 4,059 shares of the company’s stock valued at $392,000 after acquiring an additional 183 shares in the last quarter. Advisory Services Network LLC lifted its stake in New Oriental Education & Tech Grp by 20.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,071 shares of the company’s stock valued at $104,000 after acquiring an additional 184 shares in the last quarter. 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 valued at $50,000 after acquiring an additional 200 shares in the last quarter. Finally, Strategic Blueprint LLC bought a new stake in New Oriental Education & Tech Grp in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 86.46% of the company’s stock.

The stock has a market cap of $15.94 billion, a P/E ratio of 74.95, a PEG ratio of 1.21 and a beta of 1.46. The company has a 50 day simple moving average of $111.52 and a 200 day simple moving average of $99.12. The company has a current ratio of 1.73, a quick ratio of 1.71 and a debt-to-equity ratio of 0.04.

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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