New Oriental Education & Technology Group, Inc. (NYSE:EDU) Given Consensus Recommendation of “Hold” by Brokerages

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has received an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $59.5333.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Zacks Research downgraded New Oriental Education & Technology Group from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $60.00 price objective on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 29th. Citigroup lowered their target price on 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. Finally, Bank of America lifted their price target on New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a research note on Monday, September 29th.

New Oriental Education & Technology Group Stock Up 0.2%

Shares of EDU stock opened at $55.47 on Friday. New Oriental Education & Technology Group has a twelve month low of $40.66 and a twelve month high of $64.38. The company has a market cap of $8.77 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.30 and a beta of 0.32. The business has a fifty day simple moving average of $54.95 and a 200 day simple moving average of $51.46.

New Oriental Education & Technology Group Dividend Announcement

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

Hedge Funds Weigh In On New Oriental Education & Technology Group

Large investors have recently modified their holdings of the business. First Beijing Investment Ltd grew its stake in shares of New Oriental Education & Technology Group by 31.4% in the third quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after purchasing an additional 2,231,169 shares during the last quarter. Aspex Management HK Ltd lifted its holdings in New Oriental Education & Technology Group by 18.8% during the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after buying an additional 1,106,716 shares during the period. Alkeon Capital Management LLC lifted its holdings in New Oriental Education & Technology Group by 101.3% during the 2nd 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. Discerene Group LP bought a new stake in shares of New Oriental Education & Technology Group in the 1st quarter valued at about $75,564,000. Finally, Greenwoods Asset Management Hong Kong Ltd. increased its stake in shares of New Oriental Education & Technology Group by 13.7% in the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,396,039 shares of the company’s stock valued at $66,745,000 after buying an additional 167,721 shares during the period.

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.