Pekin Hardy Strauss Inc. Buys New Shares in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Pekin Hardy Strauss Inc. bought a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,200 shares of the company’s stock, valued at approximately $344,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GeoWealth Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after buying an additional 318 shares in the last quarter. Westpac Banking Corp acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth $45,000. SBI Securities Co. Ltd. acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth $51,000. Natixis grew its holdings in New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after acquiring an additional 248 shares during the period. Finally, BNP Paribas acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth $113,000.

Analysts Set New Price Targets

EDU has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Finally, Citigroup raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $77.00 to $50.00 in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and a consensus target price of $52.00.

New Oriental Education & Technology Group Trading Up 2.1%

EDU opened at $51.74 on Wednesday. The stock has a market capitalization of $8.78 billion, a P/E ratio of 21.83 and a beta of 0.28. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26. The firm’s fifty day simple moving average is $48.93 and its 200 day simple moving average is $50.35.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.91% and a net margin of 8.17%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

New Oriental Education & Technology Group Company Profile

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.