Lenovo Group (OTCMKTS:LNVGY) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Lenovo Group (OTCMKTS:LNVGY) posted its quarterly earnings data on Wednesday. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.22, Zacks reports. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $20.65 billion. Lenovo Group had a net margin of 2.17% and a return on equity of 28.15%.

Lenovo Group Trading Up 3.3%

Shares of LNVGY stock traded up $0.75 on Friday, hitting $23.71. The stock had a trading volume of 23,762 shares, compared to its average volume of 159,384. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. Lenovo Group has a twelve month low of $17.84 and a twelve month high of $35.09. The company has a fifty day moving average price of $23.69 and a two-hundred day moving average price of $26.77. The firm has a market cap of $15.02 billion, a P/E ratio of 9.72, a PEG ratio of 0.57 and a beta of 0.66.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Lenovo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded Lenovo Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 20th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.