New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – What’s Next?

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $61.03, but opened at $58.69. New Oriental Education & Technology Group shares last traded at $59.90, with a volume of 141,515 shares traded.

Wall Street Analysts Forecast Growth

EDU has been the subject of several analyst reports. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th.

New Oriental Education & Technology Group Stock Down 0.9 %

The stock has a market cap of $10.06 billion, a P/E ratio of 25.33 and a beta of 0.46. The firm has a 50 day simple moving average of $62.91 and a 200-day simple moving average of $68.08.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.27. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. On average, equities analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Farallon Capital Management LLC boosted its position in New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares during the period. Fiera Capital Corp lifted its holdings in shares of New Oriental Education & Technology Group by 19.8% during the third quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock worth $3,896,000 after purchasing an additional 8,499 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of New Oriental Education & Technology Group by 3.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after purchasing an additional 19,401 shares during the last quarter. Monolith Management Ltd acquired a new stake in New Oriental Education & Technology Group in the third quarter valued at $15,168,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of New Oriental Education & Technology Group by 12.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after acquiring an additional 11,423 shares during the last quarter.

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.