New Oriental Education & Technology Group (NYSE:EDU) Raised to Strong-Buy at Zacks Research

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

Other analysts also recently issued research reports about the stock. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Hsbc Global Res upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. upped their price target on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $60.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $65.84.

New Oriental Education & Technology Group Stock Down 1.0%

Shares of New Oriental Education & Technology Group stock traded down $0.64 during trading hours on Monday, reaching $62.87. 785,293 shares of the company’s stock were exchanged, compared to its average volume of 1,094,651. The company has a market capitalization of $9.94 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 1.06 and a beta of 0.27. New Oriental Education & Technology Group has a 1 year low of $40.66 and a 1 year high of $64.97. The business has a fifty day moving average of $55.66 and a two-hundred day moving average of $53.05.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.22 EPS. The business’s revenue was up 14.7% on a year-over-year basis. As a group, research 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EDU. First Beijing Investment Ltd increased its position in shares of New Oriental Education & Technology Group by 31.4% during the third quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after acquiring an additional 2,231,169 shares during the period. Aspex Management HK Ltd increased its position in shares of New Oriental Education & Technology Group by 18.8% in the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock valued at $376,635,000 after purchasing an additional 1,106,716 shares during the last quarter. Alkeon Capital Management LLC boosted its position in shares of 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 valued at $118,339,000 after purchasing an additional 1,104,000 shares in the last quarter. Tiger Pacific Capital LP bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $38,056,000. Finally, Norges Bank bought a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $33,659,000.

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.