Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Here’s What Happened

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $24.56, but opened at $23.28. Lenovo Group shares last traded at $24.37, with a volume of 66,972 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LNVGY shares. JPMorgan Chase & Co. cut shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 20th. Zacks Research upgraded shares of Lenovo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Lenovo Group has a consensus rating of “Hold”.

Lenovo Group Stock Performance

The stock has a 50 day moving average of $23.54 and a 200 day moving average of $26.17. The company has a quick ratio of 0.71, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.04 and a beta of 0.63.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.22. Lenovo Group had a net margin of 1.89% and a return on equity of 26.18%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $20.65 billion. As a group, 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.