Lenovo Group Ltd. (OTCMKTS:LNVGY – Get Free Report)’s share price traded up 20.7% on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $49.50 and last traded at $48.4950. 16,358 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 117,903 shares. The stock had previously closed at $40.17.
Lenovo Group Trading Up 4.5%
The business has a fifty day moving average price of $29.85 and a two-hundred day moving average price of $26.21. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $31.46 billion, a PE ratio of 18.31, a PEG ratio of 1.76 and a beta of 0.78.
Lenovo Group (OTCMKTS:LNVGY – Get Free Report) last posted its earnings results on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.28. The company had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. Analysts expect that Lenovo Group Ltd. will post 2.69 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.
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