JPMorgan Chase & Co. Cuts New Oriental Education & Tech Grp (EDU) Price Target to $98.00

New Oriental Education & Tech Grp (NYSE:EDU) had its price objective cut by JPMorgan Chase & Co. from $113.00 to $98.00 in a research note issued to investors on Wednesday. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of New Oriental Education & Tech Grp from a buy rating to a hold rating in a research report on Thursday, July 26th. CLSA raised shares of New Oriental Education & Tech Grp from an underperform rating to a buy rating in a research report on Monday, October 15th. Zacks Investment Research raised shares of New Oriental Education & Tech Grp from a hold rating to a buy rating and set a $107.00 target price on the stock in a research report on Tuesday, June 26th. Finally, Morgan Stanley lowered shares of New Oriental Education & Tech Grp from an overweight rating to an equal weight rating in a report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $100.20.

EDU stock traded up $2.64 on Wednesday, reaching $56.86. 3,701,146 shares of the company were exchanged, compared to its average volume of 2,660,978. New Oriental Education & Tech Grp has a 12 month low of $51.21 and a 12 month high of $108.40. The firm has a market capitalization of $7.73 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 0.82 and a beta of 1.15.



New Oriental Education & Tech Grp (NYSE:EDU) last announced its earnings results on Tuesday, October 23rd. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.02. New Oriental Education & Tech Grp had a net margin of 9.86% and a return on equity of 15.47%. The business had revenue of $859.80 million for the quarter, compared to analyst estimates of $839.68 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. New Oriental Education & Tech Grp’s revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts anticipate that New Oriental Education & Tech Grp will post 2.28 EPS for the current fiscal year.

New Oriental Education & Tech Grp announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 23rd that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its holdings in New Oriental Education & Tech Grp by 49.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,223 shares of the company’s stock valued at $313,000 after buying an additional 1,401 shares during the period. Russell Investments Group Ltd. increased its holdings in New Oriental Education & Tech Grp by 1.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 264,161 shares of the company’s stock valued at $19,461,000 after buying an additional 2,541 shares during the period. Coronation Fund Managers Ltd. bought a new stake in New Oriental Education & Tech Grp in the 3rd quarter valued at $115,983,000. Handelsbanken Fonder AB increased its holdings in New Oriental Education & Tech Grp by 11.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 179,216 shares of the company’s stock valued at $13,264,000 after buying an additional 18,000 shares during the period. Finally, Handelsinvest Investeringsforvaltning increased its holdings in New Oriental Education & Tech Grp by 187.0% in the 3rd quarter. Handelsinvest Investeringsforvaltning now owns 9,900 shares of the company’s stock valued at $732,000 after buying an additional 6,450 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

About New Oriental Education & Tech Grp

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 Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.

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