Earnings Miss: New Oriental Education & Technology Group Inc. Missed EPS By 11% And Analysts Are Revising Their Forecasts
US stocks closed | PCE suspends inflation concerns, Google's performance soared more than 10% after that, and Nvidia rose more than 6%
The S&P Index rose 2.67% this week, and the NASDAQ rose 4.23%, all of which recorded the biggest weekly gain since November last year; the China General Index rose nearly 9% weekly, the biggest increase since July last year.
New Oriental Education Shares Are Trading Higher Amid Overall China Strength.
New Oriental Education Shares Are Trading Higher Amid Overall China Strength.
New Oriental-S (09901.HK): Revenue continues to exceed the upper limit of the guideline, and selection drags down net profit to mother
Incident: According to the FY2024Q3 financial report, FY24Q3 achieved revenue of US$1,257 million, an increase of 60% over the previous year. The previous guidance was a 42%-45% increase, mainly due to new education businesses and Oriental selection of its own products and live streaming
New Oriental Education & Technology Group Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
New Oriental-S (9901.HK) FY2024 Third Quarterly Report Review: Revenue Exceeding Expectations, Profit Disturbed by Multiple Short-Term Factors
Incident: On the evening of April 24, New Oriental released its three-quarter report for the 2024 fiscal year. From December 2023 to February 2024, net revenue of US$1,207 million/yoy +60.1%, net profit to mother was zero
New Oriental-S (9901.HK): Accelerating the expansion of outlets and increasing the profitability of the main education business
Investment proposal: Taking into account the impact of short-term Oriental selection discounts and increased compensation, reduce the company's FY2024-2026 non-GAAP net profit to 4.15 (-20%) /5.91 (-15%) /7.8, respectively
BOC International: Maintaining the New Oriental-S (09901) “Buy” Rating and Lowering the Target Price to HK$89
The Zhitong Finance App learned that BOC International released a research report stating that the target price of the New Oriental-S (09901) was lowered to HK$89 without considering Oriental Selection (01797), corresponding to the price-earnings ratio of 33 and 27 times in FY2024/25 and 48% profit growth in FY2025, maintaining a “buy” rating. Due to increased investment in Oriental Selection, the Group's operating margin forecast was lowered from 14% and to 12.8%. The bank indicated that it raised revenue by 4% and 24% for the 2024/25 fiscal year, driven by Oriental Selection and the volume of cultural tourism revenue. After the quarterly results were released, the stock price closed down 14%, mainly due to profit
Changes in Hong Kong stocks | Oriental Selection (01797) rebounded more than 7%, and New Oriental increased its holdings by 1 million shares Goldman Sachs is optimistic that its gross operating margin improved in the fourth fiscal quarter
Oriental Selection (01797) rebounded by more than 7%, and fell by more than 10% yesterday. As of press release, it rose 7.27% to HK$17.12, with a turnover of HK$129 million.
New Oriental Education Is Maintained at Buy by Citigroup
New Oriental Education Is Maintained at Buy by Citigroup
Citi: Maintaining the New Oriental Education (EDU.US) rating, adjusted from buy to buy rating, and adjusted the target price from $66.00 to $127.00.
Citi: Maintaining the New Oriental Education (EDU.US) rating, adjusted from buy to buy rating, and adjusted the target price from $66.00 to $127.00.
New Oriental Education Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 04/25/2024 60.72% Citigroup $66 → $127 Maintains Buy 03/28/2024 20.22% Morgan Stanley $85 → $95 Maintains
Oriental Selection (01797.HK) received 1 million additional shares from New Oriental
Glonghui, April 26 | According to the Stock Exchange's latest equity disclosure data, on April 24, 2024, Oriental Selection (01797.HK) received New Oriental Education & Technology Group Inc. increased its holdings by 1 million shares at an average price of HK$17.3879 per share on the market, involving approximately HK$17.3879 million. After the increase in holdings, the latest number of shares held by New Oriental Education & Technology Group Inc. is 587,538
The Nasdaq Golden Dragon China Index initially closed up 0.8%. New Oriental, a popular Chinese securities stock, partially recovered its losses last day. JD rose 1.2%, Baidu rose 0.7%, NetEase and Xiaopeng rose 0.1%, while Pinduoduo fell 1.3%, Ideal 1.7%,
The Nasdaq Golden Dragon China Index initially closed up 0.8%. New Oriental, a popular Chinese securities stock, partially recovered its losses last day. JD rose 1.2%, Baidu rose 0.7%, NetEase and Xiaopeng rose 0.1%, while Pinduoduo fell 1.3%, Ideal 1.7%, Station B fell 1.8%, and Canan Technology fell 6.2%.
New Oriental Education Shares Are Trading Higher as the Stock Rebounds Following Wednesday's Drop.
New Oriental Education Shares Are Trading Higher as the Stock Rebounds Following Wednesday's Drop.
Hong Kong stocks closed up 0.48%, and the Hang Seng Technology Index closed down 0.54%, Shang Tang (00020.HK) closed up about 4%, and New Oriental (09901.HK) closed down about 12%.
Hong Kong stocks closed up 0.48%, and the Hang Seng Technology Index closed down 0.54%, Shang Tang (00020.HK) closed up about 4%, and New Oriental (09901.HK) closed down about 12%.
Hong Kong stocks closed up 0.48%, the Hang Seng Technology Index closed down 0.54%, Shangtang closed up about 4%, and New Oriental closed down 12%.
Hong Kong stocks closed up 0.48%, the Hang Seng Technology Index closed down 0.54%, Shangtang closed up about 4%, and New Oriental closed down 12%.
Changes in Hong Kong stocks | After the New Oriental-S performance, it opened down nearly 15%. Oriental selection investment increased, and the company's profit margin may be under pressure for a short time
New Oriental-S (09901) opened nearly 15% lower after the results, and US stocks closed down nearly 14% overnight. As of press release, it decreased by 12.91% to HK$61.75, with a turnover of HK$865 million.
New Oriental (9901.HK): Oriental Selection Investment Increases Education Business Operating Profit Margin Continues to Improve
Results for the 3rd quarter of FY2024: Revenue of US$1.2 billion, up 60% year over year, compared with our agreed expectations of 44%/47% growth, mainly driven by the growth of new education businesses and Oriental Select's own businesses. Adjusted operating profit 1.
Hong Kong stock New Oriental opened down 14.95%. Yesterday, it released its results for the third quarter of FY24. During the period, it achieved net revenue of US$1.27 billion, an increase of 60.1% over the previous year, and net profit attributable to s
Hong Kong stock New Oriental opened down 14.95%. Yesterday, it released its results for the third quarter of FY24. During the period, it achieved net revenue of US$1.27 billion, an increase of 60.1% over the previous year, and net profit attributable to shareholders of US$87.167 million, an increase of 6.8% over the previous year.
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