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

Lenovo Group Ltd. (OTCMKTS:LNVGY) gapped up before the market opened on Wednesday . The stock had previously closed at $53.51, but opened at $57.80. Lenovo Group shares last traded at $57.8950, with a volume of 7,064 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. One equities 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.com, the company presently has an average rating of “Buy”.

Lenovo Group Stock Up 6.2%

The stock has a fifty day moving average price of $49.09 and a two-hundred day moving average price of $33.03. The company has a market cap of $35.26 billion, a price-to-earnings ratio of 20.52 and a beta of 1.12. 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 released its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. The business had revenue of $21.59 billion for the quarter, compared to analyst estimates of $19.39 billion. Lenovo Group had a net margin of 2.30% and a return on equity of 27.74%. As a group, sell-side analysts expect that Lenovo Group Ltd. will post 3.59 EPS 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.