Lenovo Group (OTCMKTS:LNVGY) Announces Earnings Results

Lenovo Group (OTCMKTS:LNVGY) released its earnings results on Wednesday. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.22, Zacks reports. Lenovo Group had a return on equity of 28.15% and a net margin of 2.17%.The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $20.65 billion.

Lenovo Group Stock Up 3.2%

Shares of Lenovo Group stock traded up $0.74 on Friday, reaching $23.70. 36,217 shares of the company were exchanged, compared to its average volume of 159,533. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $23.69 and a 200 day moving average of $26.77. Lenovo Group has a one year low of $17.84 and a one year high of $35.09. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.57 and a beta of 0.66.

Wall Street Analysts Forecast Growth

LNVGY has been the subject of a number of recent analyst reports. Zacks Research raised Lenovo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a report on Thursday, November 20th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

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.