Lenovo Group Ltd. (OTCMKTS:LNVGY – Get Free Report) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $89.99 and last traded at $88.00, with a volume of 673110 shares traded. The stock had previously closed at $73.77.
The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $1.13. Lenovo Group had a return on equity of 27.74% and a net margin of 2.30%.
Wall Street Analysts Forecast Growth
Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy”.
Lenovo Group Stock Performance
The company’s fifty day simple moving average is $61.03 and its two-hundred day simple moving average is $40.19. The company 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.
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.
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