New Oriental Education & Technology Group (NYSE:EDU) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

New Oriental Education & Technology Group (NYSE:EDU) announced its quarterly earnings results on Tuesday. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.96 by $0.19, RTT News reports. The firm had revenue of $986.40 million for the quarter, compared to analyst estimates of $954.64 million. New Oriental Education & Technology Group had a return on equity of 15.17% and a net margin of 11.55%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 earnings per share. New Oriental Education & Technology Group updated its Q2 2021
Pre-Market guidance to EPS.

New Oriental Education & Technology Group stock opened at $162.10 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. New Oriental Education & Technology Group has a 52 week low of $102.01 and a 52 week high of $173.37. The company has a market capitalization of $25.68 billion, a price-to-earnings ratio of 62.59 and a beta of 1.20. The stock has a 50-day moving average price of $152.31 and a 200 day moving average price of $134.00.

Several brokerages have recently commented on EDU. Zacks Investment Research upgraded New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Goldman Sachs Group lifted their target price on New Oriental Education & Technology Group from $145.00 to $149.00 in a research note on Wednesday, July 1st. Nomura reiterated a “buy” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday. Jefferies Financial Group started coverage on New Oriental Education & Technology Group in a research note on Tuesday, September 1st. They issued a “buy” rating and a $175.00 target price on the stock. Finally, Benchmark lifted their target price on New Oriental Education & Technology Group from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $154.00.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.

Read More: Why is the price-sales ratio important?

Earnings History for New Oriental Education & Technology Group (NYSE:EDU)

Receive News & Ratings for New Oriental Education & Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.