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

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped down before the market opened on Thursday . The stock had previously closed at $64.85, but opened at $60.08. Lenovo Group shares last traded at $61.99, with a volume of 61,770 shares traded.

Analyst Upgrades and Downgrades

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

Lenovo Group Trading Down 5.4%

The company has a market capitalization of $38.04 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 2.38 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.96 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $33.18 and its two-hundred day simple moving average is $27.25.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.28. The firm had revenue of $21.59 billion during the quarter, compared to analysts’ expectations of $19.39 billion. Lenovo Group had a return on equity of 28.52% and a net margin of 2.30%. As a group, research analysts anticipate 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.