TAL Education Group (NYSE:XRS) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $83.00 and last traded at $82.51, with a volume of 1,120,253 shares changing hands. The stock had previously closed at $77.60.
The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.17. The firm earned $271.10 million during the quarter, compared to the consensus estimate of $250.52 million. TAL Education Group had a net margin of 14.17% and a return on equity of 21.29%. The company’s revenue for the quarter was up 56.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share.
Several equities analysts have recently issued reports on the stock. T.H. Capital raised their price target on shares of TAL Education Group from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, October 21st. Zacks Investment Research raised shares of TAL Education Group from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, October 18th. Daiwa Capital Markets assumed coverage on shares of TAL Education Group in a research note on Monday, October 10th. They set a “buy” rating for the company. Credit Agricole SA downgraded shares of TAL Education Group from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 27th. Finally, Brean Capital assumed coverage on shares of TAL Education Group in a research note on Wednesday, July 27th. They set a “buy” rating and a $72.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.75.
A number of large investors have recently bought and sold shares of XRS. DekaBank Deutsche Girozentrale boosted its stake in TAL Education Group by 228.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,300 shares of the company’s stock worth $138,000 after buying an additional 1,600 shares during the last quarter. Seven Eight Capital LLC bought a new stake in TAL Education Group during the second quarter worth approximately $168,000. Alta Advisers Ltd boosted its stake in TAL Education Group by 385.7% in the second quarter. Alta Advisers Ltd now owns 3,400 shares of the company’s stock worth $211,000 after buying an additional 2,700 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in TAL Education Group by 97.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,450 shares of the company’s stock worth $214,000 after buying an additional 1,700 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in TAL Education Group during the second quarter worth approximately $217,000. Institutional investors and hedge funds own 50.74% of the company’s stock.
The company has a 50 day moving average price of $70.32 and a 200-day moving average price of $61.35. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 70.35 and a beta of 0.43.
About TAL Education Group
TAL Education Group is a holding company for a group of companies engaged in provision of after-school tutoring programs for primary and secondary school students in the People’s Republic of China (the PRC). The Company is a K-12 after-school tutoring services provider in China. The Company’s Xueersi Peiyou small classes course consists of approximately four semesters, which include approximately two school semesters in Spring and Fall, and approximately two holiday semesters in summer and winter.