New Oriental Education & Technology Group, Inc. (NYSE:EDU) Stock Has Average Price Target of $60.75

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have earned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $60.75.

Several research analysts have issued reports on the company. Weiss Ratings lowered New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. New Street Research set a $56.50 price objective on New Oriental Education & Technology Group in a report on Thursday, July 30th. Finally, Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st.

New Oriental Education & Technology Group Trading Up 4.0%

Shares of NYSE:EDU opened at $54.13 on Tuesday. New Oriental Education & Technology Group has a 12 month low of $44.25 and a 12 month high of $64.97. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 0.55 and a beta of 0.24. The firm’s 50-day moving average is $56.41 and its 200 day moving average is $54.14.

New Oriental Education & Technology Group Dividend Announcement

The business also recently announced a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Wednesday, November 18th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. New Oriental Education & Technology Group’s dividend payout ratio is currently 49.38%.

Insider Activity at New Oriental Education & Technology Group

In other news, Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the transaction, the director directly owned 429,998 shares of the company’s stock, valued at approximately $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. boosted its stake in shares of New Oriental Education & Technology Group by 2.9% during the third quarter. TD Waterhouse Canada Inc. now owns 9,189 shares of the company’s stock valued at $510,000 after purchasing an additional 259 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in New Oriental Education & Technology Group by 106.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in New Oriental Education & Technology Group by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company’s stock worth $219,000 after buying an additional 500 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in New Oriental Education & Technology Group by 10.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company’s stock worth $729,000 after buying an additional 1,555 shares in the last quarter. Finally, KBC Group NV lifted its holdings in New Oriental Education & Technology Group by 42.8% during the first quarter. KBC Group NV now owns 5,814 shares of the company’s stock worth $329,000 after buying an additional 1,743 shares during the period.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc (NYSE: EDU) is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.