Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Still a Buy?

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $22.93, but opened at $24.16. Lenovo Group shares last traded at $23.10, with a volume of 10,745 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on LNVGY shares. Zacks Research downgraded shares of Lenovo Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. JPMorgan Chase & Co. downgraded shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Lenovo Group Price Performance

The firm has a market capitalization of $14.29 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.53 and a beta of 0.61. The stock’s 50 day simple moving average is $24.09 and its 200 day simple moving average is $26.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.96.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings results on Wednesday, November 19th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.15. Lenovo Group had a return on equity of 28.15% and a net margin of 2.17%.The firm had revenue of $20.45 billion during the quarter, compared to analyst estimates of $20.09 billion. As a group, analysts expect that Lenovo Group Ltd. will post 2.06 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.