Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $60.4749, but opened at $53.80. Lenovo Group shares last traded at $54.65, with a volume of 4,112 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research raised 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Lenovo Group Stock Down 9.2%

The firm has a market cap of $34.05 billion, a price-to-earnings ratio of 19.82 and a beta of 1.10. The firm has a 50 day moving average of $45.32 and a 200 day moving average of $31.48. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Lenovo Group (OTCMKTS:LNVGY) last posted its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. The firm had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. Lenovo Group had a return on equity of 27.74% and a net margin of 2.30%. As a group, sell-side analysts predict that Lenovo Group Ltd. will post 3.59 earnings per share 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.