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

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Thursday . The stock had previously closed at $64.74, but opened at $59.00. Lenovo Group shares last traded at $60.21, with a volume of 3,500 shares.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Lenovo Group Stock Performance

The company has a market capitalization of $38.23 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. 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 company’s fifty day simple moving average is $40.59 and its two-hundred day simple moving average is $29.79.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.28. The company 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 predict that Lenovo Group Ltd. will post 2.75 earnings per share for the current fiscal 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.