Lenovo Group (OTCMKTS:LNVGY) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Lenovo Group (OTCMKTS:LNVGY) issued its quarterly 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. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $20.65 billion. Lenovo Group had a return on equity of 28.15% and a net margin of 2.17%.

Lenovo Group Stock Performance

Lenovo Group stock traded up $0.74 during mid-day trading on Friday, reaching $23.70. 38,056 shares of the company traded hands, compared to its average volume of 159,814. The firm’s fifty day moving average is $23.69 and its two-hundred day moving average is $26.77. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.57 and a beta of 0.66. Lenovo Group has a fifty-two week low of $17.84 and a fifty-two week high of $35.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.71.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LNVGY. Zacks Research upgraded Lenovo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

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.