New Oriental Education & Technology Group (NYSE:EDU) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on EDU. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday. The Goldman Sachs Group restated a “neutral” rating and issued a $60.00 target price on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Citigroup lowered their price target on shares of New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, September 9th. Bank of America lifted their price target on New Oriental Education & Technology Group from $56.20 to $58.20 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. boosted their price objective on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.53.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $55.59 on Monday. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 1.30 and a beta of 0.32. New Oriental Education & Technology Group has a 1 year low of $40.66 and a 1 year high of $64.38. The business’s 50 day simple moving average is $54.87 and its 200-day simple moving average is $51.94.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 18th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, November 18th. New Oriental Education & Technology Group’s payout ratio is presently 25.55%.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of EDU. Alkeon Capital Management LLC grew its stake in New Oriental Education & Technology Group by 101.3% in the second quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after purchasing an additional 1,104,000 shares in the last quarter. Yiheng Capital Management L.P. lifted its stake in New Oriental Education & Technology Group by 15.4% in the first quarter. Yiheng Capital Management L.P. now owns 598,080 shares of the company’s stock worth $28,594,000 after acquiring an additional 79,766 shares during the period. Jump Financial LLC grew its holdings 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 in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $621,000. Finally, MY.Alpha Management HK Advisors Ltd bought a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $6,431,000.

About New Oriental Education & Technology Group

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.