Lenovo Group (OTCMKTS:LNVGY) Cut to “Hold” at Zacks Research

Lenovo Group (OTCMKTS:LNVGY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Lenovo Group Trading Up 1.1%

OTCMKTS:LNVGY opened at $76.60 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 0.95. Lenovo Group has a one year low of $21.00 and a one year high of $89.99. The business’s 50-day simple moving average is $63.87 and its 200 day simple moving average is $42.91. The stock has a market cap of $47.51 billion, a price-to-earnings ratio of 74.37 and a beta of 1.14.

Lenovo Group (OTCMKTS:LNVGY) last issued its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.28. Lenovo Group had a return on equity of 34.51% and a net margin of 0.88%.The firm had revenue of $21.59 billion during the quarter, compared to analyst estimates of $19.39 billion. As a group, sell-side analysts predict that Lenovo Group will post 4.95 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.