New Oriental Education & Technology Group (NYSE:EDU) Given New $127.00 Price Target at Citigroup

New Oriental Education & Technology Group (NYSE:EDU) had its target price boosted by stock analysts at Citigroup from $66.00 to $127.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 59.43% from the company’s current price.

A number of other research analysts also recently issued reports on EDU. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Morgan Stanley raised their price target on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

New Oriental Education & Technology Group Stock Performance

Shares of New Oriental Education & Technology Group stock traded up $2.58 during trading hours on Thursday, reaching $79.66. The company’s stock had a trading volume of 5,062,345 shares, compared to its average volume of 1,800,991. The company’s 50 day simple moving average is $89.48 and its 200 day simple moving average is $78.82. New Oriental Education & Technology Group has a one year low of $35.70 and a one year high of $98.20. The stock has a market cap of $13.52 billion, a P/E ratio of 43.77 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The business had revenue of $869.60 million during the quarter, compared to the consensus estimate of $814.01 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, sell-side analysts predict that New Oriental Education & Technology Group will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently made changes to their positions in EDU. Tobam purchased a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth approximately $3,979,000. FengHe Fund Management Pte. Ltd. purchased a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth approximately $2,037,000. Ariose Capital Management Ltd purchased a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth approximately $30,631,000. Clearbridge Investments LLC increased its position in shares of New Oriental Education & Technology Group by 14.7% in the third quarter. Clearbridge Investments LLC now owns 65,002 shares of the company’s stock worth $3,806,000 after acquiring an additional 8,306 shares in the last quarter. Finally, XY Capital Ltd increased its position in shares of New Oriental Education & Technology Group by 376.4% in the third quarter. XY Capital Ltd now owns 102,903 shares of the company’s stock worth $6,025,000 after acquiring an additional 81,303 shares in the last quarter.

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.