New Oriental Education & Technology Group (NYSE:EDU) Sees Large Volume Increase

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) saw strong trading volume on Thursday . 1,685,429 shares changed hands during trading, a decline of 4% from the previous session’s volume of 1,753,971 shares.The stock last traded at $80.52 and had previously closed at $77.08.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th.

New Oriental Education & Technology Group Trading Up 3.3 %

The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 44.10 and a beta of 0.49. The stock has a 50-day moving average price of $89.48 and a two-hundred day moving average price of $78.82.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.23). New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The company had revenue of $869.60 million for the quarter, compared to analyst estimates of $814.01 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. Research analysts predict that New Oriental Education & Technology Group Inc. will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently made changes to their positions in EDU. FMR LLC boosted its position in New Oriental Education & Technology Group by 92.7% during the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock worth $388,274,000 after acquiring an additional 3,189,254 shares during the last quarter. Sylebra Capital LLC acquired a new stake in New Oriental Education & Technology Group during the third quarter worth approximately $63,935,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in New Oriental Education & Technology Group by 141.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock worth $117,892,000 after acquiring an additional 942,392 shares during the last quarter. Shah Capital Management acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $60,659,000. Finally, Schroder Investment Management Group boosted its holdings in shares of New Oriental Education & Technology Group by 22.8% in the 3rd quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock valued at $239,730,000 after purchasing an additional 760,062 shares during the last quarter.

About New Oriental Education & Technology Group

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.