New Oriental Education & Technology Group (NYSE:EDU) Lowered to Equal Weight Rating by Morgan Stanley

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $52.00 price objective on the stock, down from their previous price objective of $83.00. Morgan Stanley’s price target suggests a potential upside of 11.45% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $79.00 to $44.00 in a report on Wednesday. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $50.00 in a research note on Wednesday. Finally, StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.40.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU opened at $46.66 on Wednesday. The stock has a 50-day simple moving average of $60.57 and a two-hundred day simple moving average of $65.19. The firm has a market capitalization of $7.92 billion, a PE ratio of 19.94 and a beta of 0.44. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. Equities analysts forecast that New Oriental Education & Technology Group will post 2.94 earnings per share for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds have recently modified their holdings of the company. Fiera Capital Corp lifted its position in 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 valued at $3,896,000 after purchasing an additional 8,499 shares during the last quarter. JPMorgan Chase & Co. grew its position in New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after acquiring an additional 543,810 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in 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 acquiring an additional 19,401 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 valued at $7,573,000 after purchasing an additional 11,423 shares during the period. Finally, Monolith Management Ltd purchased a new stake in New Oriental Education & Technology Group during the third quarter valued at approximately $15,168,000.

About New Oriental Education & Technology Group

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.