Lenovo Group (OTCMKTS:LNVGY) Shares Cross Above 200 Day Moving Average of $19.78

Posted by Defense World Staff on Aug 8th, 2023

Lenovo Group Limited (OTCMKTS:LNVGY – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.78 and traded as high as $22.49. Lenovo Group shares last traded at $22.32, with a volume of 48,455 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LNVGY. Morgan Stanley upgraded Lenovo Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 2nd. The Goldman Sachs Group upgraded Lenovo Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 31st.

Read Our Latest Analysis on LNVGY

Lenovo Group Price Performance

The company has a 50-day moving average of $21.07 and a 200 day moving average of $19.82. The company has a quick ratio of 0.63, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $13.54 billion, a PE ratio of 8.82, a PEG ratio of 1.14 and a beta of 0.99.

Lenovo Group (OTCMKTS:LNVGY – Get Free Report) last posted its quarterly earnings data on Wednesday, May 24th. The technology company reported $0.19 EPS for the quarter. Lenovo Group had a return on equity of 27.90% and a net margin of 2.60%. The firm had revenue of $12.64 billion during the quarter. Sell-side analysts predict that Lenovo Group Limited will post 2.45 EPS for the current year.

Lenovo Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, July 27th will be paid a $0.7462 dividend. This is an increase from Lenovo Group’s previous dividend of $0.18. The ex-dividend date is Wednesday, July 26th. Lenovo Group’s dividend payout ratio is currently 58.89%.

About Lenovo Group

(Get Free Report)

Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments. The company offers commercial and consumer personal computers, as well as servers and workstations; and a family of mobile Internet devices, including tablets and smartphones.