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

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $77.19, but opened at $81.99. New Oriental Education & Technology Group shares last traded at $84.93, with a volume of 1,130,576 shares traded.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Moderate Buy” and an average target price of $103.67.

New Oriental Education & Technology Group Stock Performance

The firm has a fifty day moving average price of $65.88 and a 200 day moving average price of $76.03. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 42.37 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.19). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. On average, analysts expect that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The business also recently disclosed a — dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $0.58 dividend. The ex-dividend date was Monday, September 9th.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in New Oriental Education & Technology Group by 3.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company’s stock valued at $115,071,000 after purchasing an additional 56,100 shares in the last quarter. Millennium Management LLC boosted its position in New Oriental Education & Technology Group by 147.5% in the second quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock worth $56,880,000 after purchasing an additional 436,098 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in New Oriental Education & Technology Group by 16.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock valued at $107,283,000 after purchasing an additional 196,133 shares during the period. Point72 Asset Management L.P. raised its stake in shares of New Oriental Education & Technology Group by 26.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 686,400 shares of the company’s stock worth $53,354,000 after purchasing an additional 145,200 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in New Oriental Education & Technology Group during the second quarter valued at about $15,274,000.

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.