New Oriental Education & Tech Grp (NYSE:EDU) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $129.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.29% from the stock’s current price.
According to Zacks, “New Oriental is the largest provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of English and other foreign language training, test preparation courses for major admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education. New Oriental’s ADSs, each of which represents four common shares, currently trade on the New York Stock Exchange under the symbol ”EDU.” “
Other analysts have also issued research reports about the stock. Citigroup restated a “buy” rating and set a $130.00 price target (up previously from $115.00) on shares of New Oriental Education & Tech Grp in a research report on Thursday, October 10th. ValuEngine lowered shares of New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $88.00 to $143.00 in a research report on Thursday, October 17th. Finally, Benchmark raised their price target on shares of New Oriental Education & Tech Grp from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $107.33.
New Oriental Education & Tech Grp (NYSE:EDU) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. New Oriental Education & Tech Grp had a net margin of 9.79% and a return on equity of 14.98%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $1.16 earnings per share. On average, research analysts predict that New Oriental Education & Tech Grp will post 2.95 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its stake in New Oriental Education & Tech Grp by 0.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 339,681 shares of the company’s stock worth $30,602,000 after purchasing an additional 2,500 shares in the last quarter. Dorsey Wright & Associates purchased a new position in New Oriental Education & Tech Grp in the 2nd quarter worth about $3,444,000. WINTON GROUP Ltd purchased a new position in New Oriental Education & Tech Grp in the 2nd quarter worth about $293,000. Hexavest Inc. purchased a new position in New Oriental Education & Tech Grp in the 2nd quarter worth about $1,888,000. Finally, Handelsbanken Fonder AB increased its stake in New Oriental Education & Tech Grp by 8.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 269,216 shares of the company’s stock worth $26,001,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.
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. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.
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