New Oriental Education & Technology Group (NYSE:EDU) Stock Price Down 4%

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares traded down 4% during trading on Thursday . The stock traded as low as $76.54 and last traded at $76.64. 725,012 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,705,263 shares. The stock had previously closed at $79.80.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. HSBC assumed coverage on New Oriental Education & Technology Group in a report on Wednesday, May 29th. They issued a “buy” rating and a $110.00 price target for the company. Morgan Stanley raised their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Citigroup raised their price objective on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.75.

New Oriental Education & Technology Group Trading Down 4.5 %

The stock has a market capitalization of $12.93 billion, a PE ratio of 42.78 and a beta of 0.44. The firm has a 50 day moving average of $79.60 and a two-hundred day moving average of $82.45.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.09 billion. New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. Equities research analysts forecast that New Oriental Education & Technology Group Inc. will post 1.86 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently bought and sold shares of the stock. Assetmark Inc. increased its position in New Oriental Education & Technology Group by 1,642.9% during the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after buying an additional 575 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in shares of New Oriental Education & Technology Group during the first quarter worth $231,000. Jump Financial LLC acquired a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $235,000. Panagora Asset Management Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $240,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $271,000.

About New Oriental Education & Technology Group

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.