New Oriental Education & Technology Group (NYSE:EDU) Given New $95.00 Price Target at Morgan Stanley

New Oriental Education & Technology Group (NYSE:EDU) had its price target upped by analysts at Morgan Stanley from $85.00 to $95.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 9.04% from the stock’s current price.

Separately, StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU traded up $1.13 during trading hours on Thursday, hitting $87.12. The stock had a trading volume of 172,818 shares, compared to its average volume of 1,710,856. The business’s 50 day moving average is $87.06 and its 200-day moving average is $74.82. New Oriental Education & Technology Group has a one year low of $35.70 and a one year high of $98.20. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 47.99 and a beta of 0.50.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $869.60 million for the quarter, compared to the consensus estimate of $814.01 million. During the same period in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 36.3% on a year-over-year basis. On average, sell-side analysts anticipate that New Oriental Education & Technology Group will post 2 EPS for the current fiscal year.

Institutional Trading of New Oriental Education & Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in New Oriental Education & Technology Group by 130.8% in the 1st quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock valued at $43,114,000 after purchasing an additional 21,246,644 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of New Oriental Education & Technology Group during the 1st quarter worth approximately $3,799,000. FMR LLC increased its holdings in shares of New Oriental Education & Technology Group by 92.7% during the 3rd quarter. FMR LLC now owns 6,631,500 shares of the company’s stock worth $388,274,000 after acquiring an additional 3,189,254 shares during the last quarter. Verition Fund Management LLC lifted its holdings in New Oriental Education & Technology Group by 158.8% during the 1st quarter. Verition Fund Management LLC now owns 5,000,000 shares of the company’s stock valued at $5,750,000 after purchasing an additional 3,067,800 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in shares of New Oriental Education & Technology Group in the first quarter valued at $2,372,000.

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.