Lenovo Group (OTCMKTS:LNVGY) Hits New 1-Year High – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $72.11 and last traded at $72.11, with a volume of 5414 shares trading hands. The stock had previously closed at $67.4525.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Lenovo Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

Lenovo Group Trading Up 8.4%

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.66. The stock has a 50-day moving average price of $60.38 and a two-hundred day moving average price of $38.76. The stock has a market cap of $44.10 billion, a PE ratio of 25.67 and a beta of 1.14.

Lenovo Group (OTCMKTS:LNVGY) last announced its earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 2.30% and a return on equity of 27.74%. Sell-side analysts forecast that Lenovo Group Ltd. will post 3.91 earnings per share for the current fiscal 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.