Stay Ahead of Wall Street. Find out what is happening to New Oriental Education & Technology Group Inc. (NYSE:EDU) stock today? Its price is jumping 2.86 points, trading at $86.89 levels, and is up 3.4% from its previous close of $84.03. The shares seem to have an active trading volume day with a reported 1025512 contracts so far this session. EDU shares had a relatively better volume day versus average trading capacity of 1.43 million shares, but with a 0.12 billion float and a -5.01% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for EDU stock indicates that the average analyst price target is $102.98 per share. This means the stock has a potential increase of 18.52% from where the EDU share price has been trading recently which is between $82.14 and $85.09. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $83.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “The Super Short: An Investing Story of Hope, Loss, and Redemption in China” and dated May 14, 2019.
During the recent trading session for New Oriental Education & Technology Group Inc. (NYSE:EDU), the company witnessed their stock drop by $-3.97 over a week and tumble down $-3.11 from the price 20 days ago. When compared to their established 52-week high of $108.24, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/12/18. The recent low of $50.3 stood for a -19.73% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.63 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for New Oriental Education & Technology Group Inc., the two-week RSI stands at 46.86. This figure suggests that EDU stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current EDU readings is similarly very revealing as it has a stochastic reading of 17.81% at this stage. This figure means that EDU share price today is being overbought.
Technical chart claims that New Oriental Education & Technology Group Inc. (EDU) would settle between $85.37/share to $86.7/share level. However, if the stock price goes below the $82.42 mark, then the market for New Oriental Education & Technology Group Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $80.8 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -4.12. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at The Benchmark Company lifted target price for shares of EDU but were stick to Buy recommendation for the stock in their opinion released on April 24. The price target has been raised from $90 to $105. Deutsche Bank analysts bumped their rating on New Oriental Education & Technology Group Inc. (NYSE:EDU) stock from Hold to Buy in a separate flash note issued to investors on April 16. Analysts at Morgan Stanley released an upgrade from Equal-Weight to Overweight for the stock, in a research note that dated back to March 25.
EDU equity has an average rating of 1.63, with the figure leaning towards a bullish end. 30 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 28 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 28 analysts rated New Oriental Education & Technology Group Inc. (NYSE:EDU) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, EDU stock price is currently trading at 25.06X forward 12-month Consensus EPS estimates, and its P/S ratio is 4.8 while for the average stock in the same group, the multiple is 3. New Oriental Education & Technology Group Inc. current P/E ratio of 57.4 means it is trading at a premium against its industry’s 24.42. In the past 5 years, this ratio for the stock has been fluctuating between 18.42 and 52.87.