New Oriental Education & Technology Group (NYSE:EDU) Upgraded at Hsbc Global Res

New Oriental Education & Technology Group (NYSE:EDU) was upgraded by equities research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. China Renaissance raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Zacks Research upgraded New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $60.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, New Oriental Education & Technology Group has a consensus rating of “Moderate Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU opened at $59.36 on Wednesday. New Oriental Education & Technology Group has a fifty-two week low of $40.66 and a fifty-two week high of $63.78. The stock has a market cap of $9.38 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.39 and a beta of 0.29. The stock has a fifty day moving average of $55.00 and a 200-day moving average of $52.77.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.29% and a net margin of 7.40%.The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. On average, sell-side analysts predict that New Oriental Education & Technology Group will post 2.75 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of large investors have recently modified their holdings of the company. First Beijing Investment Ltd lifted its position in New Oriental Education & Technology Group by 31.4% in the 3rd quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after buying an additional 2,231,169 shares during the last quarter. Aspex Management HK Ltd raised its stake in shares of New Oriental Education & Technology Group by 18.8% during the second quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after acquiring an additional 1,106,716 shares in the last quarter. Alkeon Capital Management LLC lifted its holdings in shares of New Oriental Education & Technology Group by 101.3% in the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after acquiring an additional 1,104,000 shares during the last quarter. Tiger Pacific Capital LP purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at $38,056,000. Finally, Serenity Capital Management PTE. LTD. grew its holdings in shares of New Oriental Education & Technology Group by 167.6% during the 3rd quarter. Serenity Capital Management PTE. LTD. now owns 656,878 shares of the company’s stock valued at $34,861,000 after purchasing an additional 411,380 shares during the last quarter.

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.