Thursday was the first-day analysts at StockNews.com began providing coverage of the New Oriental Education & Technology Group.
This coverage came as a research report distributed to customers and investors.
The company suggested a “hold” investment strategy for the stock as an appropriate course of action.
January 17th saw the release of the quarterly earnings report for New Oriental Education & Technology Group (NYSE: EDU).
The company reported a profit of $0.10 per share for the quarter, significantly lower than the average prediction of $0.22 per share, a difference of $0.12.
The net margin and the return on equity were in the red for New Oriental Education & Technology Group. Neither one was positive.
The return on equity was negative -6.32%, and the net margin was negative -9.72%.
The company’s most recent quarter ended with actual sales of $638.20 million, significantly higher than the average prediction of $614.16 million for that quarter’s sales.
The same quarter of the previous year saw the same level of financial success for the company, with each share contributing to a profit of $1.00.
The revenue brought in by New Oriental Education & Technology Group in the third quarter experienced a decline of 3.0% compared to the same period in the previous year.
This year, New Oriental Education & Technology Group is expected to bring in revenue of $0.68 per share, according to the projections made by market analysts.
Thursday was the first-day EDU was available for trading, and the opening price was $36.73.
The moving average of the company’s stock price over the past 200 days is $32.51, while the moving average over the last 50 days is $41.31.
The firm’s beta value is 0.61, and its market capitalization ranges from $6.23 billion to $6.23 billion.
The company currently has a price-to-earnings ratio of -81.62.
The highest price that New Oriental Education & Technology Group has reached in the past year is $46.63, while the lowest price the company has reached is $9.29.
Separately, TheStreet lowered its rating of New Oriental Education & Technology Group from a “c-” rating to a “d” rating after conducting research that was made available to the public on Monday, November 21st. Seven equity research experts have suggested that investors buy the company, but only one has suggested that investors keep the holdings they already have.
The information on Bloomberg.com indicates that the stock is currently rated as having an average recommendation of “Moderate Buy” and that analysts have assigned the company an average price target of $36.60.
Institutional investors have recently adjusted the total number of shares of stock they own in the company. Seven Eight Capital LP acquired 15.7% of New Oriental Education & Technology Group during the third quarter. Seven Eight Capital LP currently holds 25,153 shares of the company’s stock, worth a combined total of $603,000 following the acquisition of an additional 3,404 shares during the most recent quarter.
The Healthcare of Ontario Pension Plan Trust Fund increased the percentage of ownership it held in New Oriental Education & Technology Group by 18.4% during the third quarter.
The Healthcare of Ontario Pension Plan Trust Fund now has 3,509,009 shares after purchasing an additional 546,500 in the most recent quarter.
This brings the fund’s total number of shares to 3,509,009.
The value of these shares at present is $84,110,000. James Inve