New Oriental Education & Technology Group (NYSE:EDU) Trading Up 5.1% – Should You Buy?

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price rose 5.1% on Tuesday . The company traded as high as $63.07 and last traded at $62.95. Approximately 310,610 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,838,436 shares. The stock had previously closed at $59.92.

Wall Street Analyst Weigh In

EDU has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Price Performance

The company has a market capitalization of $10.88 billion, a PE ratio of 27.39 and a beta of 0.46. The stock’s 50 day simple moving average is $65.15 and its 200-day simple moving average is $69.16.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 earnings per share. On average, equities analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Institutional Trading of New Oriental Education & Technology Group

Several large investors have recently bought and sold shares of EDU. Ridgewood Investments LLC acquired a new stake in New Oriental Education & Technology Group in the 2nd quarter worth about $43,000. Ashton Thomas Private Wealth LLC purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $50,000. Blue Trust Inc. increased its holdings in New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after purchasing an additional 712 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after acquiring an additional 206 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $212,000.

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.