New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives $65.84 Average Target Price from Analysts

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $65.84.

A number of brokerages have recently weighed in on EDU. Zacks Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. New Street Research set a $68.00 price objective on New Oriental Education & Technology Group in a report on Wednesday, January 28th. China Renaissance upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $56.64 on Monday. The company’s 50-day moving average is $57.15 and its 200-day moving average is $55.53. The firm has a market capitalization of $8.95 billion, a PE ratio of 24.00, a PEG ratio of 0.95 and a beta of 0.28. New Oriental Education & Technology Group has a fifty-two week low of $40.66 and a fifty-two week high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. New Oriental Education & Technology Group’s revenue was up 14.7% compared to the same quarter last year. Analysts predict that New Oriental Education & Technology Group will post 2.75 earnings per share for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Factory Mutual Insurance Co. bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter valued at $2,505,000. OPTIMAS CAPITAL Ltd bought a new position in shares of New Oriental Education & Technology Group in the third quarter worth $1,974,000. Alkeon Capital Management LLC raised its stake in New Oriental Education & Technology Group by 101.3% in the second quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock valued at $118,339,000 after purchasing an additional 1,104,000 shares in the last quarter. Jump Financial LLC raised its stake in New Oriental Education & Technology Group by 64.5% in the second quarter. Jump Financial LLC now owns 171,108 shares of the company’s stock valued at $9,231,000 after purchasing an additional 67,108 shares in the last quarter. Finally, First Beijing Investment Ltd lifted its position in New Oriental Education & Technology Group by 31.4% during the third quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after purchasing an additional 2,231,169 shares during the period.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.