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

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares gapped down before the market opened on Monday . The stock had previously closed at $24.15, but opened at $22.60. Lenovo Group shares last traded at $23.64, with a volume of 9,384 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LNVGY. Zacks Research cut Lenovo Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. cut Lenovo Group from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lenovo Group currently has a consensus rating of “Reduce”.

Lenovo Group Stock Performance

The stock has a market cap of $14.98 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.57 and a beta of 0.66. The company’s 50 day simple moving average is $23.82 and its 200 day simple moving average is $26.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.96.

Lenovo Group (OTCMKTS:LNVGY) last posted its quarterly earnings results on Wednesday, November 19th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.60 by $0.15. Lenovo Group had a net margin of 2.17% and a return on equity of 28.15%. The business had revenue of $20.45 billion for the quarter, compared to analysts’ expectations of $20.09 billion. On average, equities research 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.