New Oriental Education & Technology Group (NYSE:EDU) Downgraded to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from an overweight rating to a neutral rating in a research note released on Wednesday morning, Marketbeat.com reports. They currently have $50.00 price objective on the stock, down from their previous price objective of $85.00.

A number of other analysts have also issued reports on the stock. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.40.

New Oriental Education & Technology Group Trading Down 1.1 %

Shares of NYSE:EDU opened at $46.22 on Wednesday. The company has a fifty day simple moving average of $60.38 and a 200 day simple moving average of $65.06. The firm has a market cap of $7.84 billion, a PE ratio of 19.75 and a beta of 0.44. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, equities research analysts forecast that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. grew its position in shares of New Oriental Education & Technology Group by 6.5% during the second quarter. Sei Investments Co. now owns 190,302 shares of the company’s stock worth $14,792,000 after acquiring an additional 11,622 shares during the last quarter. Hancock Whitney Corp bought a new position in shares of New Oriental Education & Technology Group during the second quarter worth about $212,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of New Oriental Education & Technology Group during the second quarter worth about $15,274,000. Point72 Asset Management L.P. grew its position in shares of New Oriental Education & Technology Group by 26.8% during the second quarter. Point72 Asset Management L.P. now owns 686,400 shares of the company’s stock worth $53,354,000 after acquiring an additional 145,200 shares during the last quarter. Finally, Point72 Hong Kong Ltd grew its position in shares of New Oriental Education & Technology Group by 16.6% during the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock worth $107,283,000 after acquiring an additional 196,133 shares during the last quarter.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.