New Oriental Education & Technology Group (NYSE:EDU) Trading Down 5.1% – Here’s What Happened

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s share price dropped 5.1% during mid-day trading on Monday . The company traded as low as $59.58 and last traded at $59.49. Approximately 871,284 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 1,153,807 shares. The stock had previously closed at $62.72.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EDU. HSBC raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a research report on Wednesday, January 28th. China Renaissance raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Zacks Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Buy” and an average target price of $65.84.

New Oriental Education & Technology Group Trading Up 0.6%

The business has a 50-day moving average price of $56.86 and a two-hundred day moving average price of $53.62. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.04 and a beta of 0.27.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Alkeon Capital Management LLC boosted its position in shares of New Oriental Education & Technology Group by 101.3% during the second quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after buying an additional 1,104,000 shares during the period. OPTIMAS CAPITAL Ltd acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter valued at approximately $1,974,000. Jump Financial LLC boosted its position in New Oriental Education & Technology Group by 64.5% during the 2nd quarter. Jump Financial LLC now owns 171,108 shares of the company’s stock worth $9,231,000 after acquiring an additional 67,108 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of New Oriental Education & Technology Group in the second quarter worth $621,000. Finally, MY.Alpha Management HK Advisors Ltd acquired a new position in shares of New Oriental Education & Technology Group during the second quarter valued at $6,431,000.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.