New Oriental Education & Technology Group (NYSE:EDU) Price Target Raised to $127.00 at Citigroup

New Oriental Education & Technology Group (NYSE:EDU) had its target price hoisted by Citigroup from $66.00 to $127.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut New Oriental Education & Technology Group from a buy rating to a hold rating in a report on Thursday, January 4th. Morgan Stanley boosted their price objective on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an overweight rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, New Oriental Education & Technology Group currently has an average rating of Moderate Buy and an average target price of $97.67.

New Oriental Education & Technology Group Price Performance

NYSE EDU traded up $3.96 on Thursday, reaching $83.60. 2,339,474 shares of the company’s stock traded hands, compared to its average volume of 1,806,740. The stock has a market cap of $14.19 billion, a PE ratio of 42.83 and a beta of 0.49. New Oriental Education & Technology Group has a 12 month low of $35.70 and a 12 month high of $98.20. The stock has a 50-day simple moving average of $89.48 and a 200 day simple moving average of $78.82.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.23). The company had revenue of $869.60 million for the quarter, compared to the consensus estimate of $814.01 million. New Oriental Education & Technology Group had a return on equity of 8.20% and a net margin of 7.72%. New Oriental Education & Technology Group’s revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. As a group, analysts anticipate that New Oriental Education & Technology Group will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EDU. Norden Group LLC purchased a new stake in shares of New Oriental Education & Technology Group in the 1st quarter worth approximately $796,000. Claro Advisors LLC increased its holdings in shares of New Oriental Education & Technology Group by 5.3% during the first quarter. Claro Advisors LLC now owns 3,797 shares of the company’s stock valued at $330,000 after acquiring an additional 191 shares in the last quarter. Matthews International Capital Management LLC grew its position in New Oriental Education & Technology Group by 101.7% during the 1st quarter. Matthews International Capital Management LLC now owns 94,905 shares of the company’s stock valued at $8,240,000 after purchasing an additional 47,862 shares during the last quarter. Nomura Holdings Inc. increased its stake in New Oriental Education & Technology Group by 53.9% during the 4th quarter. Nomura Holdings Inc. now owns 225,539 shares of the company’s stock valued at $16,527,000 after purchasing an additional 78,993 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in New Oriental Education & Technology Group by 141.4% in 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 buying an additional 942,392 shares during the last quarter.

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.