New Oriental Education & Technology Group (NYSE:EDU) Shares Up 5.1% – Time to Buy?

New Oriental Education & Technology Group Inc. (NYSE:EDU) shares traded up 5.1% during trading on Tuesday . The stock traded as high as $63.07 and last traded at $62.95. 310,610 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,838,436 shares. The stock had previously closed at $59.92.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EDU shares. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a research report on Thursday, October 17th. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

New Oriental Education & Technology Group Stock Up 5.4 %

The company has a 50-day moving average of $65.13 and a 200-day moving average of $69.33. The company has a market cap of $10.71 billion, a PE ratio of 27.22 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. As a group, equities analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in New Oriental Education & Technology Group in the 2nd quarter valued at $43,000. Ashton Thomas Private Wealth LLC bought a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $50,000. Blue Trust Inc. increased its holdings in shares of New Oriental Education & Technology Group by 782.4% in the second quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after purchasing an additional 712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after buying an additional 206 shares during the period. Finally, Hancock Whitney Corp purchased a new position in New Oriental Education & Technology Group during the second quarter worth about $212,000.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.