Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – What’s Next?

Shares of Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped up prior to trading on Tuesday . The stock had previously closed at $62.41, but opened at $64.90. Lenovo Group shares last traded at $64.9950, with a volume of 16,108 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Lenovo Group presently has a consensus rating of “Buy”.

Lenovo Group Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 0.96 and a quick ratio of 0.71. The company has a 50-day moving average price of $39.07 and a 200-day moving average price of $29.26. The firm has a market capitalization of $40.18 billion, a PE ratio of 23.39, a P/E/G ratio of 2.04 and a beta of 1.10.

Lenovo Group (OTCMKTS:LNVGY) last issued its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.28. Lenovo Group had a return on equity of 28.52% and a net margin of 2.30%.The business had revenue of $21.59 billion for the quarter, compared to the consensus estimate of $19.39 billion. Sell-side analysts forecast that Lenovo Group Ltd. will post 2.75 EPS for the current 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.