|Bid||11.30 x 1800|
|Ask||11.60 x 800|
|Day's Range||11.25 - 12.11|
|52 Week Range||8.40 - 120.50|
|Beta (5Y Monthly)||0.94|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 26, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Sep 01, 2017|
|1y Target Est||31.73|
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The big shareholder groups in New Oriental Education & Technology Group Inc. ( NYSE:EDU ) have power over the company...
News that the Chinese government is getting ready to wrap up its years-long crackdown on the country's tech stocks, and shift toward supporting the sector instead, sparked a rally in Chinese equities Friday morning. As of 10:50 a.m. ET, shares of Gaotu Techedu (NYSE: GOTU) are up 9.9%, New Oriental Education & Technology Group (NYSE: EDU) is gaining 10.9%, and TAL Education Group (NYSE: TAL) is leading the sector higher with an 11.2% gain. China's economy grew only 4.8% in the first quarter of 2022, slower than the government's targeted 5.5% growth rate for this year -- and according to the International Monetary Fund, rather than improving, the economy looks likely to slow further as the year wears on.
China highly values education, to the point where much of society is formed around academic achievement. Cynically, then, this dynamic represents a powerful backdrop for New Oriental Education (NYSE:EDU), a provider of private educational services in China. Thus, divorced from any other context, EDU stock should be a resounding buy. However, the Chinese government has some thoughts on the matter. Last year, Beijing imposed a sudden and startling crackdown on after-school education companies, sen