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

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares hit a new 52-week high on Friday . The stock 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 raised shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy”.

Lenovo Group Stock Performance

The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm has a market cap of $44.10 billion, a price-to-earnings ratio of 25.67 and a beta of 1.14. The business’s 50-day simple moving average is $60.38 and its two-hundred day simple moving average is $38.76.

Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.28. The firm had revenue of $21.59 billion during the quarter, compared to analyst estimates of $19.39 billion. Lenovo Group had a return on equity of 27.74% and a net margin of 2.30%. As a group, sell-side analysts expect 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.