April 17, 2024

Grand Depart

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New Oriental Education & Technology Group Receives Price Target Boost from Citigroup

4 min read
New Oriental Education & Technology Group Receives Price Target Boost from Citigroup

New Oriental Education & Technology Group (NYSE:EDU) has recently received a price objective boost from Citigroup. In a research note issued on September 27, 2023, Citigroup raised the price target for EDU stock from $42.00 to $66.00. This increase suggests a potential upside of 17.79{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} from the company’s current price.

Shares of EDU stock opened at $56.03 on Wednesday, and New Oriental Education & Technology Group has experienced a 52-week low of $17.01 and a high of $60.19 during this period. The firm currently maintains a 50-day moving average of $54.14 and a 200-day moving average of $45.03. With a market capitalization value of $9.51 billion, the company carries a price-to-earnings ratio of 54.40 and a beta coefficient of 0.69.

Under the New Oriental brand in the People’s Republic of China, New Oriental Education & Technology Group offers private educational services across various segments such as Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others.

In its last quarterly earnings report released on July 26th, 2023, New Oriental Education & Technology Group reported an earnings per share (EPS) of $0.22 for the quarter, which fell short of analysts’ consensus estimates by ($0.90). Meanwhile, the company generated revenue amounting to $860.57 million for the same period, surpassing the consensus estimate set at $827.96 million.

For the current year, analysts expect that New Oriental Education & Technology Group will post earnings per share (EPS) amounting to approximately 1.82.

Please note that all information provided is based on publicly available data as of September 27, 2023, and investors should conduct further research before making any investment decisions.

Rhythm Pharmaceuticals, Inc.

RYTM

Neutral

New Oriental Education & Technology Group Receives Price Target Boost from Citigroup

Updated on: 28/09/2023

Price Target

Current $24.04

Concensus $28.33


Low $25.00

Median $25.00

High $35.00

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Social Sentiments

12:00 AM (UTC)

Date:28 September, 2023

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Analyst Ratings

Analyst / firm Rating
Goldman Sachs Buy
Corinne Jenkins
Goldman Sachs
Buy
Corinne Jenkins
Goldman Sachs
Sell
Needham Buy
Dae Gon Ha
Stifel Nicolaus
Buy

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Evaluating the Future Prospects of New Oriental Education & Technology Group: Analyst Reports and Institutional Actions


As of September 27, 2023, New Oriental Education & Technology Group, a leading educational company in China, has been the subject of various reports by equity analysts. These reports provide insights and evaluations on the company’s performance and potential growth. It is essential for investors and stakeholders to consider these expert opinions when making investment decisions.

One such report comes from UBS Group, which recently raised the target price for New Oriental Education & Technology Group from $65.00 to $71.00. The research report highlights positive aspects of the company’s operations and suggests that it may see an increase in stock value. This revised target price indicates the analysts’ optimism regarding the company’s future prospects.

Another research report by TheStreet offers a contrasting perspective. They upgraded their rating for New Oriental Education & Technology Group from a “d+” to a “c-“. This change implies a more favorable outlook on the company’s performance, potentially attracting investors who previously held reservations about its prospects.

However, not all reports are as upbeat about the company’s potential. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in their recent research note. Although this downgrade may raise concerns among some investors, it also prompts them to reevaluate their position and adjust their strategies accordingly.

In addition to these analyst reports, it is crucial to assess the positions taken by hedge funds and institutional investors as they can provide further insights into market sentiment. Barclays PLC increased its stake in New Oriental Education & Technology Group by 40.1{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823}, demonstrating confidence in the company’s future growth potential.

Point72 Hong Kong Ltd also boosted its holdings in New Oriental Education & Technology Group by almost 100{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823}. This significant increase suggests that they anticipate positive developments within the company that could lead to better returns on investment.

Two Sigma Investments LP showcases similar confidence by increasing its stake in New Oriental Education & Technology Group by 124.4{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823}. This move indicates a strong belief in the company’s ability to deliver favorable results in the future.

Moreover, Snow Lake Capital HK Ltd experienced a 50.0{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} increase in its holdings, signifying their optimistic view on New Oriental Education & Technology Group’s growth prospects. Lastly, Aperture Investors LLC increased its position by 23.3{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} in the first quarter, showcasing their continued faith in the company’s long-term potential.

Collectively, these institutional investors and hedge funds own approximately 89.51{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} of the stock of New Oriental Education & Technology Group. Such significant ownership reflects the trust and confidence placed in the company by industry professionals who actively manage substantial investment portfolios.

In conclusion, it is evident that various equity analysts hold differing opinions on New Oriental Education & Technology Group’s future performance. While UBS Group revised their target price upwards, TheStreet provided a more favorable rating upgrade. Conversely, StockNews.com downgraded their recommendation.

Looking beyond analyst reports, institutional investors and hedge funds have demonstrated varying degrees of confidence in New Oriental Education & Technology Group through increases in holdings. The decisions made by these professional investors provide critical insights into market sentiment while reflecting an assessment of the company’s growth potential.

Investors and stakeholders should carefully consider all available information when making investment decisions, taking into account both analyst reports and institutional actions to form a well-informed perspective on New Oriental Education & Technology Group’s future trajectory in the educational sector.

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