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

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $64.85, but opened at $60.08. Lenovo Group shares last traded at $61.99, with a volume of 61,770 shares.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lenovo Group presently has a consensus rating of “Buy”.

Lenovo Group Trading Down 4.1%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.96. The firm’s fifty day simple moving average is $34.68 and its 200-day simple moving average is $27.73. The stock has a market cap of $37.23 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.23 and a beta of 1.10.

Lenovo Group (OTCMKTS:LNVGY) last released its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.28. The firm had revenue of $21.59 billion during the quarter, compared to analyst estimates of $19.39 billion. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. Equities research analysts expect that Lenovo Group Ltd. will post 2.75 EPS for the current fiscal year.

Lenovo Group Company Profile

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.