According to Bloomberg, the nine research analysts who follow New Oriental Education & Technology Group Inc. (NYSE: EDU) have assigned the company’s shares a “Moderate Buy” rating as the consensus recommendation. This rating represents a recommendation to purchase the shares at a price between current and anticipated levels. In contrast to the seven financial analysts who gave the stock a buy rating, only one of the analysts polled recommended maintaining the stock’s current holdings. The average price target for one year given by brokerages that updated their stock coverage in the preceding year is $36.60.
Several stock research analysts have recently published studies on the company that they have compiled themselves. The coverage of New Oriental Education & Technology Group on StockNews.com began with a research note on the company’s stock on October 12. They recommended that shareholders “hold” their shares of the company. TheStreet lowered its rating of New Oriental Education & Technology Group from a “c-” rating to a “d” in a research note published on November 21.
The opening price of a share on the NYSE EDU on Friday was $44.19 per share. The company’s simple moving average over the past fifty days is $33.87, and the company’s simple moving average over the past two hundred days is $28.06. The price of a share of New Oriental Education & Technology Group has ranged from $8.40 to $46.63 over the past year, with a low point being reached at $8.40.
On Tuesday, January 17, New Oriental Education & Technology Group (NYSE: EDU) made public its information regarding the recently completed fiscal quarter’s outcomes. The company announced earnings per share for the quarter of $0.10, which came in at $0.12 less than the consensus estimate of $0.22 per share. The company brought in revenue of $638.20 million during the quarter, which is significantly higher than the industry experts’ forecasted revenue of $614.16 million at the beginning of the quarter. The previous year’s fourth-quarter sales for the company were 3.0% lower than the previous year’s sales for the same period. The company had earnings of $1.00 per share during the same period the year before when compared to the current year. The projections of market analysts suggest that New Oriental Education & Technology Group will generate a profit of 0.7 cents per share in 2018. This is the forecast for the year 2018.
A few hedge funds’ holdings of educational institutions have recently gone through some revisions due to these changes. JPMorgan Chase & Co. increased the amount of New Oriental Education & Technology Group stock owned by 22.4% over the first three months of 2018. Following the acquisition of 582,351 additional shares of the company’s stock during the most recent fiscal quarter, JPMorgan Chase & Co. now holds a total of 3,182,422 shares of the company’s stock. The total value of these shares comes to 3,659 thousand dollars. The Bank of New York Mellon Corporation increased the proportion of New Oriental Education & Technology Group owned by 10.1% during the first three months of 2018. Bank of New York Mellon Corp now has 1,739,685 shares in its portfolio after purchasing an additional 158,968 in the most recent quarter. These shares are currently worth a total of two million dollars as of right now. American Century Companies Inc. increased the proportion of New Oriental Education & Technology Group owned by 1% over the first three months of 2018. American Century Companies Inc. now has a total investment of $566,000 spread across 483,904 shares following the purchase of an additional 4,888 during the most recent quarter. Acadian Asset Management LLC increased the amount of New Oriental Education & Technology Group stock owned by 186.1% over the first three months of 2018. As a result of the purchase of 125,599 additional shares during the most recent fiscal quarter, Acadian Asset Management LLC now owns a total of 193,107 shares of the company’s stock, which has an intrinsic value of $221,000. This brings the total value of Acadian Asset Management LLC’s stock holdings to $221,000. Last but certainly not least, during the first quarter of 2018, BlackRock Inc. increased the amount of New Oriental Education & Technology Group stock owned by 2.4%. BlackRock Inc. now has 64,329,110 shares of the company’s stock, valued at a combined total of $73,977,000, after purchasing an additional 1,492,990 shares during the preceding quarter. This brings the total number of shares that the company owns to 64,329,110. Institutional investors and hedge funds collectively own 67.55 percent of the total number of shares issued by the company.
New Oriental Education & Technology Group Inc., which conducts its business under the brand name New Oriental, is the organization that is responsible for making private educational opportunities accessible to people living in all regions of the People’s Republic of China. The organization is structured into four divisions, each focusing on a distinct aspect of education: Educational Services and Test Preparation Courses, Online Education and Other Services, Overseas Study Consulting Services, and Other Related Services are All Available Here.
