Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – What’s Next?

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Wednesday . The stock had previously closed at $23.81, but opened at $22.87. Lenovo Group shares last traded at $23.91, with a volume of 31,642 shares.

Wall Street Analysts Forecast Growth

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

Lenovo Group Stock Performance

The business has a fifty day moving average of $23.58 and a 200 day moving average of $26.72. The company has a market cap of $14.80 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.04 and a beta of 0.66. The company has a quick ratio of 0.71, a current ratio of 0.96 and a debt-to-equity ratio of 0.59.

Lenovo Group (OTCMKTS:LNVGY) last announced its earnings results on Wednesday, February 11th. The technology company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.22. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $20.65 billion. Lenovo Group had a net margin of 1.89% and a return on equity of 26.18%. On average, equities analysts predict that Lenovo Group Ltd. will post 2.06 EPS for the current 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.