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December 4, 2012
11:32 EDTEDUNew Oriental Education isn't known to be subject of SEC probe, says Wells Fargo
After Wells Fargo in an earlier note wrote that New Oriental is one of the Chinese companies that may have to consider delisting its U.S. shares, the firm clarified that it has no reason to believe that the company is the subject of an SEC probe. Wells believes that the SEC's decision to attempt to force U.S. accounting firms to produce paperwork related to nine Chinese companies "is an emerging risk factor for all U.S.-listed Chinese companies."
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July 23, 2014
07:33 EDTEDUNew Oriental Education price target lowered to $29-$32 from $34-$38 at Wells Fargo
Wells Fargo cut its price target range on New Oriental Education after the company provided lower than expected Q1 revenue guidance. However, the firm thinks the company continues to have a number of fundamental strengths, and it keeps an Outperform rating on the shares.
06:17 EDTEDUNew Oriental Education downgraded to Perform from Outperform at Oppenheimer
Oppenheimer downgraded New Oriental Education to Perform citing business challenges following the company's Q4 results. Shares were also downgraded this morning at Jefferies.
06:16 EDTEDUNew Oriental Education downgraded to Hold from Buy at Jefferies
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July 22, 2014
10:46 EDTEDUHigh option volume stocks: SBAC KS EDU PII GALT EJ AXL TSEM HLF BCOR
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05:36 EDTEDUNew Oriental Education announces $120M share repurchase program
On July 22, New Oriental's board authorized the repurchase of up to $120M of the company's shares during the period from July 28, 2014, through March 31, 2015.
05:35 EDTEDUNew Oriental Education sees Q1 revenue $412M-$427M, consensus $463.36M
New Oriental Education commented, "This lower-than-normal projected revenue growth rate reflects the anticipated impact on the company's top-line performance of margin expansion initiatives in FY14, the transition to a new POP Kids program, changes in product mix and business seasonality, as well as certain macroeconomic factors. We are in the process of reducing our previous learning center opening plan of 10-12 per quarter in light of the slower than expected revenue growth outlook for our Q1."
05:32 EDTEDUNew Oriental Education reports Q4 EPS 30c, consensus 24c
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