New Oriental Education & Technology Group (EDU) to Release Earnings on Wednesday

Posted by Defense World Staff on Oct 18th, 2023

New Oriental Education & Technology Group (NYSE:EDU – Get Free Report) will release its earnings data before the market opens on Wednesday, October 25th. New Oriental Education & Technology Group has set its Q1 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

New Oriental Education & Technology Group (NYSE:EDU – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.90). The company had revenue of $860.57 million during the quarter, compared to the consensus estimate of $827.96 million. New Oriental Education & Technology Group had a net margin of 5.92% and a return on equity of 4.67%. On average, analysts expect New Oriental Education & Technology Group to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

New Oriental Education & Technology Group Stock Down 1.4 %

EDU stock opened at $61.97 on Wednesday. New Oriental Education & Technology Group has a twelve month low of $17.01 and a twelve month high of $65.92. The business has a 50 day moving average price of $56.40 and a two-hundred day moving average price of $47.25. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 60.17 and a beta of 0.66.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in New Oriental Education & Technology Group by 130.8% during the first quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock worth $43,114,000 after acquiring an additional 21,246,644 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of New Oriental Education & Technology Group during the first quarter worth $3,799,000. Verition Fund Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 158.8% during the first quarter. Verition Fund Management LLC now owns 5,000,000 shares of the company’s stock worth $5,750,000 after buying an additional 3,067,800 shares in the last quarter. Ergoteles LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 1st quarter valued at $2,372,000. Finally, Bridgewater Associates LP boosted its holdings in shares of New Oriental Education & Technology Group by 48.9% during the 1st quarter. Bridgewater Associates LP now owns 6,201,032 shares of the company’s stock valued at $7,131,000 after acquiring an additional 2,035,926 shares in the last quarter. 89.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. TheStreet upgraded New Oriental Education & Technology Group from a “d+” rating to a “c-” rating in a research note on Wednesday, July 26th. UBS Group lifted their target price on New Oriental Education & Technology Group from $65.00 to $71.00 in a research note on Thursday, July 27th. Finally, Citigroup lifted their target price on New Oriental Education & Technology Group from $42.00 to $66.00 in a research note on Wednesday, September 27th.

Check Out Our Latest Research Report on New Oriental Education & Technology Group

About New Oriental Education & Technology Group

(Get Free Report)

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.