New Oriental Education & Technology Group (NYSE:EDU) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group (NYSE:EDU) from an overweight rating to a neutral rating in a research note published on Wednesday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $50.00 price objective on the stock, down from their prior price objective of $85.00.

A number of other equities research analysts have also weighed in on EDU. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $46.71 on Wednesday. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 19.88 and a beta of 0.44. The stock’s 50-day moving average is $60.03 and its two-hundred day moving average is $64.70. New Oriental Education & Technology Group has a 1-year low of $44.46 and a 1-year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share 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 analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. Equities research analysts anticipate that New Oriental Education & Technology Group will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 worth $126,000 after purchasing an additional 206 shares in the last quarter. Blue Trust Inc. lifted its stake in New Oriental Education & Technology Group by 155.5% in the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after buying an additional 1,249 shares during the last quarter. Hancock Whitney Corp acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at approximately $212,000. SG Americas Securities LLC purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $272,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $297,000.

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.