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New Oriental Education & Technology Group Inc. (NYSE: EDU) Is Down -0.09% – Is It Capable Of A Rally?

New Oriental Education & Technology Group Inc. (NYSE:EDU) traded at $44.15 at close of the session on Monday, 01/23/23, made a downward move of -0.09% on its previous day’s price.

Looking at the stock we see that its previous close was $44.19 and the beta (5Y monthly) reads 0.58 with the day’s price range being $43.50 – $44.75. In terms of its 52-week price range, EDU has a high of $46.63 and a low of $8.40. The company’s stock has gained about 16.46% over that past 30 days.

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New Oriental Education & Technology Group Inc. has a market cap of $7.58 billion and is expected to release its quarterly earnings report on Feb 20, 2023 – Feb 24, 2023. Estimates by analysts give the company expected earnings per share (EPS) of $0.23, with the EPS growth for the year raised at $0.99 for 2023 and $1.69 for next year. These figures represent 116.00% and 70.70% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $596.76 million, with a low of $578 million and a high of $615.53 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $2.55 billion, or -17.90% down from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the EDU stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Based on estimates by 16 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 2 have rated the New Oriental Education & Technology Group Inc. (EDU) stock as a Hold, while 12 rate it as a Buy. 2 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 13.14% off its SMA20 and 32.94% from its 50-day simple moving average. The RSI (14) is pointing at 65.39 while the volatility over the past week is 7.65% and jumps to 6.58% over the past one month. The beta value is 0.55, while the average true range (ATR) is currently pointing at 2.78. The average price target for the stock over the next 12 months is $47.63, with the estimates having a low of $24.00 and a high of $65.00. These price ends are 45.64% and -47.23% off the current price level respectively, although investors could be excited at the prospect of a -10.76% if the EDU share price touches on the median price of $48.90.

Let’s briefly compare New Oriental Education & Technology Group Inc. (EDU) stock to its peers. We find that current price change of -0.09% and 159.71% over the past 12 months for EDU competes that of Grand Canyon Education Inc. (LOPE), which has seen its stock price rise 0.27% in the last trading session and was 34.21% over the last one year. Another of its peers Pearson plc (PSO) has gained 0.09% previous session, and was 22.16% up over the past year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.19% and 0.76%, respectively, at close of the trading.

Coming back to New Oriental Education & Technology Group Inc. (NYSE:EDU), we note that the average 3-month trading volume was 2.93 million, while that of the preceding 10-day period stands at 3.23 million. Current shares outstanding are 169.70 million.

The insiders hold 0.20% of the company’s shares while institutions hold 55.60%. The data shows that short shares as of Oct 13, 2022, stood at 7.21 million at a short ratio of 4.09. This represents a 4.24% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 8.43 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 26.79% up in year-to-date price movement.

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