New Oriental Education & Technology Group Inc. (NYSE: EDU) saw a 1.8% increase in its stock price, with shares opening at $91.61 on Friday. The company, with a market capitalization of $15.55 billion, has a price-to-earnings ratio of 50.34 and a beta of 0.46. New Oriental Education & Technology Group operates under the New Oriental brand in China, providing private educational services in a variety of segments including Educational Services, Test Preparation Courses, Online Education, Overseas Study Consulting Services, and Educational Materials and Distribution.
In recent news, UBS Group AG reduced its stake in New Oriental Education & Technology Group by 24.4% during the 3rd quarter, according to a filing with the SEC. The company’s holdings were worth $7,685,000 at the time of the filing. Other institutional investors and hedge funds have also made changes to their positions in EDU, with a significant portion of the stock currently owned by such entities.
Analysts have also been commenting on EDU shares, with The Goldman Sachs Group giving a “buy” rating, Morgan Stanley indicating an “overweight” rating, and StockNews.com downgrading the stock from “buy” to “hold.” With a recent earnings report showing lower than expected earnings per share, analysts are anticipating 2 EPS for the current fiscal year.
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