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

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $63.73, but opened at $58.18. Lenovo Group shares last traded at $58.5550, with a volume of 40,174 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research 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. According to data from MarketBeat, Lenovo Group presently has an average rating of “Buy”.

Lenovo Group Stock Down 8.4%

The company has a debt-to-equity ratio of 0.56, a current ratio of 0.96 and a quick ratio of 0.71. The business has a 50 day moving average price of $36.26 and a 200 day moving average price of $28.29. The firm has a market capitalization of $36.22 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10.

Lenovo Group (OTCMKTS:LNVGY) last posted its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. Lenovo Group had a return on equity of 28.52% and a net margin of 2.30%.The business had revenue of $21.59 billion for the quarter, compared to analyst estimates of $19.39 billion. On average, analysts predict that Lenovo Group Ltd. will post 2.75 earnings per share 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.