Point72 Asset Management L.P. Buys Shares of 57,502 New Oriental Education & Technology Group Inc. (NYSE:EDU)

Point72 Asset Management L.P. bought a new stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 57,502 shares of the company’s stock, valued at approximately $3,690,000.

Several other large investors have also modified their holdings of the business. Aspex Management HK Ltd boosted its holdings in shares of New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock valued at $478,456,000 after purchasing an additional 2,701,566 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of New Oriental Education & Technology Group by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock valued at $249,952,000 after purchasing an additional 1,480,391 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of New Oriental Education & Technology Group by 175.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock valued at $146,123,000 after purchasing an additional 1,449,979 shares during the period. Norges Bank purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $92,345,000. Finally, FMR LLC boosted its holdings in shares of New Oriental Education & Technology Group by 46.3% in the fourth quarter. FMR LLC now owns 4,539,678 shares of the company’s stock valued at $291,357,000 after purchasing an additional 1,437,656 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EDU. JPMorgan Chase & Co. lowered their price target on New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, April 21st. China Renaissance lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $50.00 in a report on Friday, January 24th. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.80.

New Oriental Education & Technology Group Stock Down 0.1%

Shares of NYSE:EDU opened at $48.19 on Wednesday. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 20.51 and a beta of 0.25. New Oriental Education & Technology Group Inc. has a 52 week low of $40.66 and a 52 week high of $87.26. The firm has a 50 day moving average of $47.06 and a 200 day moving average of $53.00.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. On average, sell-side analysts expect that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current year.

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.