Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – What’s Next?

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $23.98, but opened at $23.13. Lenovo Group shares last traded at $23.9950, with a volume of 5,312 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut shares of Lenovo Group from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Lenovo Group Stock Down 0.2%

The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 0.56 and a beta of 0.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.96. The business’s 50 day moving average is $26.83 and its 200 day moving average is $27.09.

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