Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $22.93, but opened at $24.16. Lenovo Group shares last traded at $23.10, with a volume of 10,745 shares trading hands.

Analyst Ratings Changes

LNVGY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a report on Thursday, November 20th. Zacks Research cut Lenovo Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lenovo Group currently has an average rating of “Reduce”.

Lenovo Group Stock Performance

The company has a market capitalization of $14.29 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 0.53 and a beta of 0.61. The company’s 50 day moving average is $24.09 and its 200-day moving average is $26.99. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings data on Wednesday, November 19th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.15. Lenovo Group had a net margin of 2.17% and a return on equity of 28.15%. The company had revenue of $20.45 billion during the quarter, compared to analyst estimates of $20.09 billion. Equities analysts anticipate that Lenovo Group Ltd. will post 2.06 EPS for the current fiscal year.

About Lenovo Group

Lenovo Group is a multinational technology company known primarily for the design, manufacture and sale of personal computers, servers, storage and smart devices. Its product portfolio spans consumer and commercial PCs (notable brands include ThinkPad, IdeaPad, Yoga and Legion), workstations, enterprise-class ThinkSystem servers and storage, as well as tablets, smartphones (notably through its Motorola Mobility acquisition), smart home devices and related software. Lenovo also provides IT services and solutions, including systems integration, managed services and lifecycle support for enterprise customers.

The company traces its origins to 1984 when it was founded in Beijing as Legend by Liu Chuanzhi; it later adopted the Lenovo name and expanded through a series of strategic acquisitions.