New Oriental Education & Technology Group (NYSE:EDU) Upgraded to Strong-Buy at China Renaissance

China Renaissance upgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

EDU has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of 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. The Goldman Sachs Group restated a “neutral” rating and issued a $60.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Zacks Research raised New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, New Street Research set a $68.00 price target on New Oriental Education & Technology Group in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Stock Performance

EDU opened at $59.36 on Thursday. New Oriental Education & Technology Group has a 52-week low of $40.66 and a 52-week high of $63.78. The stock has a market capitalization 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’s 50 day moving average price is $55.00 and its 200-day moving average price is $52.77.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. Research analysts forecast that New Oriental Education & Technology Group will post 2.75 EPS for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC grew its stake in shares of New Oriental Education & Technology Group by 26.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,881 shares of the company’s stock worth $317,000 after acquiring an additional 1,226 shares during the last quarter. Bessemer Group Inc. bought a new position in New Oriental Education & Technology Group in the 2nd quarter worth about $37,000. Y Intercept Hong Kong Ltd purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at about $7,498,000. Hantz Financial Services Inc. increased its stake in New Oriental Education & Technology Group by 738.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after purchasing an additional 797 shares in the last quarter. Finally, Carrhae Capital LLP purchased a new position in New Oriental Education & Technology Group in the second quarter worth about $18,717,000.

New Oriental Education & Technology Group Company Profile

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.