New Oriental Education & Technology Group (NYSE:EDU) Hits New 1-Year Low – Here’s Why

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $50.67 and last traded at $45.74, with a volume of 790110 shares traded. The stock had previously closed at $60.84.

Analysts Set New Price Targets

A number of analysts have weighed in on EDU shares. StockNews.com upgraded shares of 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 price objective on New Oriental Education & Technology Group in a research report on Thursday, October 17th.

New Oriental Education & Technology Group Price Performance

The stock has a 50-day moving average price of $60.80 and a 200-day moving average price of $65.42. The company has a market capitalization of $7.96 billion, a P/E ratio of 20.30 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm posted $0.99 EPS. The company’s quarterly revenue was up 30.5% on a year-over-year basis. Sell-side analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares during the period. Blue Trust Inc. raised its holdings in shares of New Oriental Education & Technology Group by 155.5% during the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after purchasing an additional 1,249 shares during the period. Hancock Whitney Corp acquired a new position in shares of New Oriental Education & Technology Group during the second quarter valued at about $212,000. SG Americas Securities LLC bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth about $272,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter valued at about $297,000.

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.