Shares Of New Oriental Education & Technology Group Inc. (EDU) Hit 52-Week High

(RTTNews) - Shares of private educational services provider New Oriental Education & Technology Group Inc. (EDU) touched an all-time high of $136.91 on Jan. 9, 2020.

Recent Quarterly Performance

On Oct. 22, the company reported first-quarter net income of $208.9 million or $1.31 per share versus $123.2 million or $0.77 per share last year.

Non-GAAP net income was $230.1 million or $1.44 per share compared to $184.1 million or $1.16 per share in the prior year period.

Net revenues increased 24.6% to $1.07 billion from $859.8 million in the previous year.

Q2 Guidance

New Oriental expects total net revenues in the second quarter of fiscal year 2020 to be in the range of US$753.6 million - US$771.0 million, representing a year-over-year growth in the range of 26% - 29%. Wall Street analysts are looking for revenue of $772.56 million for the quarter.

The company is slated to release its Q2 results on January 20, 2020.