Lenovo Group (OTCMKTS:LNVGY) Reaches New 1-Year High Following Earnings Beat

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s share price reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $89.99 and last traded at $88.00, with a volume of 673110 shares trading hands. The stock had previously closed at $73.77.

The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $1.13. Lenovo Group had a net margin of 2.30% and a return on equity of 27.74%.

Analyst Ratings Changes

Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Lenovo Group presently has an average rating of “Buy”.

Lenovo Group Stock Performance

The firm has a market capitalization of $54.39 billion, a price-to-earnings ratio of 31.66 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 0.95. The stock’s fifty day moving average is $61.03 and its two-hundred day moving average is $40.19.

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.