Analysts Set New Oriental Education & Technology Group, Inc. (NYSE:EDU) Target Price at $65.84

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $65.84.

EDU has been the topic of a number of research analyst reports. Zacks Research upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. New Street Research set a $68.00 price target on New Oriental Education & Technology Group in a research note 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. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, HSBC raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $37,000. Hantz Financial Services Inc. increased its stake in New Oriental Education & Technology Group by 738.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after buying an additional 797 shares during the period. Carrhae Capital LLP purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter worth approximately $18,717,000. Fox Run Management L.L.C. acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $538,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $621,000.

New Oriental Education & Technology Group Trading Up 2.7%

EDU stock opened at $53.96 on Thursday. The stock’s 50 day simple moving average is $57.85 and its 200 day simple moving average is $54.83. New Oriental Education & Technology Group has a 12-month low of $40.66 and a 12-month high of $64.97. The firm has a market cap of $8.53 billion, a P/E ratio of 22.86, a P/E/G ratio of 0.90 and a beta of 0.28.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. New Oriental Education & Technology Group’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. On average, research analysts forecast that New Oriental Education & Technology Group will post 2.75 EPS for the current fiscal year.

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.