New Oriental Education & Tech Grp (NYSE:EDU) Hits New 52-Week High Following Strong Earnings

Shares of New Oriental Education & Tech Grp (NYSE:EDU) hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $121.40 and last traded at $110.73, with a volume of 341768 shares traded. The stock had previously closed at $116.56.

The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. New Oriental Education & Tech Grp had a return on equity of 12.97% and a net margin of 7.69%. New Oriental Education & Tech Grp’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share.

A number of analysts recently issued reports on the company. Citigroup reiterated a “buy” rating and issued a $130.00 price target (up previously from $115.00) on shares of New Oriental Education & Tech Grp in a report on Thursday, October 10th. ValuEngine lowered New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $88.00 to $143.00 in a report on Thursday, October 17th. Finally, Zacks Investment Research upgraded New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $101.77.

Several hedge funds and other institutional investors have recently made changes to their positions in EDU. Cibc Bank USA acquired a new position in shares of New Oriental Education & Tech Grp in the 3rd quarter valued at $264,000. Coastal Investment Advisors Inc. increased its position in shares of New Oriental Education & Tech Grp by 80.0% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 450 shares of the company’s stock valued at $50,000 after acquiring an additional 200 shares during the period. Strategic Blueprint LLC acquired a new position in shares of New Oriental Education & Tech Grp in the 3rd quarter valued at $31,000. NewSquare Capital LLC acquired a new position in shares of New Oriental Education & Tech Grp in the 3rd quarter valued at $541,000. Finally, Exane Derivatives acquired a new position in shares of New Oriental Education & Tech Grp in the 3rd quarter valued at $318,000. Hedge funds and other institutional investors own 86.46% of the company’s stock.

The company has a current ratio of 1.73, a quick ratio of 1.71 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $111.55 and a 200-day moving average of $99.01. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 72.25, a P/E/G ratio of 1.18 and a beta of 1.46.

About New Oriental Education & Tech Grp (NYSE:EDU)

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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