New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Time to Sell?

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares gapped down prior to trading on Thursday . The stock had previously closed at $64.18, but opened at $62.69. New Oriental Education & Technology Group shares last traded at $62.38, with a volume of 97,630 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on EDU. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

New Oriental Education & Technology Group Stock Up 1.7 %

The business’s fifty day moving average price is $60.94 and its 200 day moving average price is $66.77. The firm has a market capitalization of $10.63 billion, a PE ratio of 26.77 and a beta of 0.46.

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 the consensus estimate 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $0.99 EPS. New Oriental Education & Technology Group’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after purchasing an additional 206 shares during the period. Blue Trust Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 155.5% in the 3rd 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 last quarter. Hancock Whitney Corp purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $212,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth $297,000.

New Oriental Education & Technology Group Company Profile

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 four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.