New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Lowered by JPMorgan Chase & Co.

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat reports. They presently have a $50.00 target price on the stock, down from their prior target price of $85.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.86% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.40.

New Oriental Education & Technology Group Stock Up 1.4 %

EDU opened at $46.79 on Wednesday. The business’s fifty day simple moving average is $60.22 and its 200 day simple moving average is $64.93. New Oriental Education & Technology Group has a 52 week low of $44.46 and a 52 week high of $98.20. The stock has a market cap of $7.94 billion, a PE ratio of 19.91 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.38% and a net margin of 8.13%. The company’s revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. As a group, equities analysts anticipate that New Oriental Education & Technology Group will post 2.94 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

A number of institutional investors have recently made changes to their positions in EDU. Sei Investments Co. raised its holdings in New Oriental Education & Technology Group by 6.5% during the 2nd quarter. Sei Investments Co. now owns 190,302 shares of the company’s stock valued at $14,792,000 after buying an additional 11,622 shares during the last quarter. Hancock Whitney Corp purchased a new position in shares of New Oriental Education & Technology Group in the second quarter valued at about $212,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of New Oriental Education & Technology Group during the second quarter valued at about $15,274,000. Point72 Asset Management L.P. boosted its holdings in shares of New Oriental Education & Technology Group by 26.8% during the second 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, Point72 Hong Kong Ltd grew its stake in shares of New Oriental Education & Technology Group by 16.6% in the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock worth $107,283,000 after purchasing an additional 196,133 shares during the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.