Russell Investments Group Ltd. lessened its holdings in New Oriental (NYSE:EDU) by 6.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 550,160 shares of the company’s stock after selling 36,191 shares during the period. Russell Investments Group Ltd. owned 0.35% of New Oriental worth $48,090,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of EDU. Bank of Montreal Can increased its stake in New Oriental by 33.1% in the 4th quarter. Bank of Montreal Can now owns 6,621 shares of the company’s stock worth $622,000 after buying an additional 1,646 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in New Oriental by 90.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 61,671 shares of the company’s stock worth $5,798,000 after buying an additional 29,259 shares in the last quarter. Eqis Capital Management Inc. increased its stake in New Oriental by 21.5% in the 4th quarter. Eqis Capital Management Inc. now owns 3,594 shares of the company’s stock worth $338,000 after buying an additional 636 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of New Oriental during the fourth quarter valued at about $235,000. Finally, Comerica Bank grew its position in shares of New Oriental by 506.0% during the fourth quarter. Comerica Bank now owns 52,605 shares of the company’s stock valued at $4,735,000 after purchasing an additional 43,924 shares in the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.
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Shares of New Oriental stock opened at $101.40 on Friday. The stock has a market cap of $13.92 billion, a PE ratio of 58.28, a PEG ratio of 1.81 and a beta of 1.31. New Oriental has a twelve month low of $69.91 and a twelve month high of $108.40.
New Oriental (NYSE:EDU) last issued its quarterly earnings data on Tuesday, April 24th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. The firm had revenue of $618.10 million during the quarter, compared to analyst estimates of $601.84 million. New Oriental had a return on equity of 15.23% and a net margin of 12.83%. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share. sell-side analysts forecast that New Oriental will post 1.82 EPS for the current year.
A number of research analysts have recently weighed in on EDU shares. Zacks Investment Research upgraded New Oriental from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. ValuEngine lowered New Oriental from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. JPMorgan Chase & Co. upgraded New Oriental from an “underweight” rating to a “neutral” rating and set a $72.00 price objective for the company in a research report on Monday, March 5th. Finally, CLSA lowered New Oriental from an “outperform” rating to an “underperform” rating in a research report on Thursday, May 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $103.51.
New Oriental 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 Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.