New Oriental Education & Technology Group (NYSE:EDU) Shares Down 2.7%

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price fell 2.7% on Monday . The stock traded as low as $65.33 and last traded at $65.48. 82,089 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,782,485 shares. The stock had previously closed at $67.29.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EDU. Citigroup lowered their target price on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. HSBC assumed coverage on shares of New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Price Performance

The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 35.18 and a beta of 0.44. The company has a 50-day simple moving average of $72.46 and a two-hundred day simple moving average of $81.01.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.19). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. Research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.87 EPS for the current year.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, September 9th.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $488,000. New York State Common Retirement Fund bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth $825,000. Russell Investments Group Ltd. lifted its holdings in shares of New Oriental Education & Technology Group by 5,196.2% in the fourth quarter. Russell Investments Group Ltd. now owns 216,881 shares of the company’s stock valued at $15,893,000 after buying an additional 212,786 shares during the period. Victory Capital Management Inc. bought a new position in New Oriental Education & Technology Group during the fourth quarter valued at about $35,542,000. Finally, E Fund Management Co. Ltd. bought a new position in New Oriental Education & Technology Group during the fourth quarter valued at about $1,114,000.

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.