New Oriental Education & Technology Group Inc. (NYSE:EDU) Average "Moderate Buy" Recommendation by Analysts

TECHNOLOGY

New Oriental Education & Technology Group Inc. (NYSE: EDU – Get Rating) shares have been assigned a “moderate buy” consensus rating by the eight rating agencies that currently cover the company, Marketbeat.com reports. I’m here. One analyst rated the stock with a Hold rating and seven gave the company a Buy rating. The average one-year price target for brokerages that covered equities last year is $36.60.

Recently, many research companies have joined EDU. Macquarie upgraded New Oriental’s Education & Technology Group from a “neutral” rating to an “outperforming” rating in a research note on Thursday, July 28. Bank of America raised its rating on New Oriental Education and Technology Group from ‘neutral’ to ‘buy’ and raised its price target from $18.80 to $36.60, in a research report on Friday, July 29. . JPMorgan Chase & Company upgraded New Oriental Education and Technology Group from ‘neutral’ to ‘overweight’ in a research report on Monday, June 13. UBS Group upgraded its New Oriental Education & Technology Group rating from ‘Neutral’ to ‘Buy’ in a research report on Monday 6 June. Finally, CICC Research upgraded New Oriental Education & Technology Group’s rating from “Market Performance” to “Outperform” in its research report on Thursday, July 14th.

New Oriental Education & Technology Group trading down 5.1%

EDU opened at $24.40 on Monday. His 50-day moving average price for this stock is $25.38 and its 200-day moving average price is $17.92. New Oriental Education & Technology Group has a 12-month low of $8.40 and a 12-month high of $29.80.

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last released its quarterly earnings data on Wednesday, July 27. The company reported his earnings per share (EPS) for the quarter ($0.94), missing analyst consensus expectations by $0.03 ($0.97). The company posted revenue of $524 million for the quarter, compared to analyst estimates of $544.92 million. New Oriental Education & Technology Group’s revenue decreased by 56.7% compared to the same period last year. On average, research analysts expect New Oriental Education & Technology Group to post earnings per share of 0.33 for the current year.

New Oriental Education & Technology Group announced that its board of directors has approved a share buyback program on Wednesday, July 27th. This repurchase authorization allows the company to reacquire its shares through open market purchases. A stock buyback program is often a sign that a company’s management thinks its stock is undervalued.

New Oriental Education & Technology Group Institutional Trading

Several institutional investors have increased or decreased their stakes in EDU recently. Eaton Vance Management increased its stake in New Oriental Education & Technology Group by 306.7% in the first quarter. Eaton Vance Management now owns 22,543 shares worth $26,000 after he purchased an additional 17,000 shares last quarter. Icapital Wealth LLC purchased new shares in New Oriental Education & Technology Group for $35,000 in the fourth quarter. Quadrant Capital Group LLC purchased new shares in New Oriental Education & Technology Group for $42,000 in the second quarter. Royal Bank of Canada increased its stake in New Oriental Education & Technology Group by 13.6% in the first quarter. Royal Bank of Canada now owns 44,215 shares worth $51,000 after purchasing an additional 5,299 shares in the previous quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in New Oriental Education & Technology Group by 18.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,823 shares of the company worth $55,000 after purchasing an additional 7,300 shares during the previous quarter. 45.81% of the shares are currently owned by hedge funds and other institutional investors.

New Oriental Education and Technology Group Company Profile

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New Oriental Education & Technology Group Inc provides New Oriental branded private education services in the People’s Republic of China. It operates through K-12 AST, test prep, and other courses. online education; and other segments. The company offers exam preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People’s Republic of China and Commonwealth countries. After-school tutoring courses for middle and high school students not only help improve exam scores, but can also be used by children to teach English.

References

Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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