New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Here’s What Happened

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $55.40, but opened at $54.00. New Oriental Education & Technology Group shares last traded at $54.69, with a volume of 463,407 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on EDU. Citigroup dropped their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.67.

New Oriental Education & Technology Group Stock Up 1.5 %

The firm has a market cap of $9.49 billion, a P/E ratio of 23.89 and a beta of 0.49. The firm has a fifty day moving average of $65.74 and a 200-day moving average of $71.46.

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

New Oriental Education & Technology Group Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.

Institutional Trading of New Oriental Education & Technology Group

Several large investors have recently modified their holdings of EDU. Farallon Capital Management LLC increased its stake in New Oriental Education & Technology Group by 139.0% in the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after acquiring an additional 854,590 shares during the last quarter. Virtu Financial LLC bought a new position in shares of New Oriental Education & Technology Group in the 1st quarter valued at $1,220,000. Fiera Capital Corp raised its holdings in shares of New Oriental Education & Technology Group by 19.8% during the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock worth $3,896,000 after buying an additional 8,499 shares in the last quarter. Swedbank AB bought a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth $6,171,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth $629,000.

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.