New Oriental Education & Technology Group (NYSE:EDU) Cut to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from an overweight rating to an equal weight rating in a report released on Wednesday morning, Marketbeat reports. Morgan Stanley currently has $52.00 price target on the stock, down from their previous price target of $83.00.

Several other research firms have also recently weighed in on EDU. 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. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $50.00 in a report on Wednesday. Finally, Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $79.00 to $44.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $46.71 on Wednesday. The company has a market capitalization of $7.93 billion, a P/E ratio of 19.88 and a beta of 0.44. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $98.20. The business’s 50 day simple moving average is $60.03 and its 200-day simple moving average is $64.70.

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, topping analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s revenue was up 30.5% on a year-over-year basis. On average, sell-side analysts anticipate that New Oriental Education & Technology Group will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised 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 last quarter. Blue Trust Inc. grew its stake 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 worth $160,000 after purchasing an additional 1,249 shares during the period. Hancock Whitney Corp bought a new stake in New Oriental Education & Technology Group in the second quarter valued at about $212,000. SG Americas Securities LLC acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $272,000. Finally, Oppenheimer Asset Management Inc. bought a new position in New Oriental Education & Technology Group during the third quarter worth 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.