Zacks Research upgraded shares of Lenovo Group (OTCMKTS:LNVGY – Free Report) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.
Lenovo Group Trading Up 4.5%
Shares of LNVGY stock opened at $50.72 on Wednesday. The company’s 50-day moving average price is $29.85 and its 200-day moving average price is $26.21. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.56. The stock has a market cap of $31.46 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.76 and a beta of 0.78. Lenovo Group has a twelve month low of $21.00 and a twelve month high of $50.79.
Lenovo Group (OTCMKTS:LNVGY – Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. The firm had revenue of $21.59 billion for the quarter, compared to analysts’ expectations of $19.39 billion. As a group, equities analysts predict that Lenovo Group will post 2.69 earnings per share for the current 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.
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