New Oriental Education & Technology Group (NYSE:EDU) elevated to “hold” at Zacks Investment Research

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New Eastern Education and Technology Group (NYSE:EDU – Get Note) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note released Wednesday to investors, Zacks.com reports.

According to Zacks, “New Oriental is the largest private educational service provider in China based on the number of program offerings, total student enrollment and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of English and other foreign language training, admission test preparation and assessment courses in the United States, the PRC and Commonwealth countries, primary and secondary education, development and distribution of educational content, software and other technologies, and online education. The New Oriental ADSs, each of which represents four common shares, currently trade on the New York Stock Exchange under the symbol “EDU”. “

Other equity research analysts have also recently released reports on the stock. CLSA upgraded shares of New Oriental Education & Technology Group from an “underperforming” rating to an “outperforming” rating in a Wednesday, April 27 research report. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from an “underweight” rating to a “neutral” rating in a Monday, May 2 research rating. Daiwa Capital Markets upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a Wednesday, March 9 research report. Finally, StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a Monday, May 2 research report. Ten analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.00.

NYSE:EDU shares traded down $0.14 on Wednesday, hitting $10.94. 1,153,288 shares of the company were traded, against an average volume of 3,929,941. The company’s 50-day moving average is $11.65 and its 200-day moving average is $15.61. The stock has a market capitalization of $1.86 billion, a PE ratio of 6.21 and a beta of 0.80. New Oriental Education & Technology Group has a fifty-two week minimum of $8.40 and a fifty-two week maximum of $112.00.

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last released its results on Tuesday, April 26. The company reported ($0.73) earnings per share for the quarter, missing analyst consensus estimates of $0.71 per ($1.44). The company posted revenue of $614.09 million in the quarter, versus analyst estimates of $642.75 million. As a group, research analysts expect New Oriental Education & Technology Group to post 1.79 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of EDU. Advisor Group Holdings Inc. increased its holdings in New Oriental Education & Technology Group by 24.3% during the third quarter. Advisor Group Holdings Inc. now owns 85,178 shares of the company valued at $175,000 after purchasing an additional 16,678 shares in the last quarter. Creative Planning purchased a new position in New Oriental Education & Technology Group during the third quarter for a value of $533,000. Panagora Asset Management Inc. increased its stake in New Oriental Education & Technology Group by 96.7% during the third quarter. Panagora Asset Management Inc. now owns 191,825 shares of the company worth $393,000 after purchasing an additional 94,285 shares during the period. California Public Employees Retirement System increased its position in shares of New Oriental Education & Technology Group by 0.8% during the third quarter. California Public Employees Retirement System now owns 3,269,170 shares of the company worth $6,702,000 after buying 26,135 additional shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in New Oriental Education & Technology Group shares by 136.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,095,029 shares of the company valued at $2,245,000 after acquiring an additional 632,288 shares last quarter.

New Company Profile Oriental Education & Technology Group (Get an assessment)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. It works through K-12 AST, test prep, and other courses; online education; and other segments. The company offers test preparation courses for students taking the language and entrance exams used by educational institutions in the United States, the People’s Republic of China and Commonwealth countries; and after-school tutoring classes for middle and high school students to improve their exam results, as well as for children to teach English.

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