New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Should You Sell?

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $68.23, but opened at $63.85. New Oriental Education & Technology Group shares last traded at $62.62, with a volume of 315,305 shares.

Analysts Set New Price Targets

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

New Oriental Education & Technology Group Trading Down 7.2 %

The firm has a market cap of $10.75 billion, a P/E ratio of 26.76 and a beta of 0.46. The business’s fifty day moving average price is $64.62 and its two-hundred day moving average price is $68.76.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. Research analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $43,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $50,000. Blue Trust Inc. boosted its position in shares of New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock valued at $62,000 after acquiring an additional 712 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $212,000.

About New Oriental Education & Technology Group

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.