Lenovo Group Ltd. (OTCMKTS:LNVGY – Get Free Report)’s share price shot up 20.7% during trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $49.50 and last traded at $48.4950. 16,358 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 117,903 shares. The stock had previously closed at $40.17.
Lenovo Group Stock Performance
The company’s 50 day moving average price is $29.85 and its 200-day moving average price is $26.21. The stock has a market cap of $31.46 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.96.
Lenovo Group (OTCMKTS:LNVGY – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. The company had revenue of $21.59 billion for the quarter, compared to analyst estimates of $19.39 billion. Equities analysts forecast that Lenovo Group Ltd. will post 2.69 EPS for the current fiscal year.
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.
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