In the latest trading session, Lenovo (LNVGY) closed at $16.21, marking a +0.34% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.09%. Elsewhere, the Dow lost 1.23%, while the tech-heavy Nasdaq lost 1.19%.
Heading into today, shares of the PC and phone maker had gained 1.16% over the past month, lagging the Computer and Technology sector's gain of 4.47% and the S&P 500's gain of 2.62% in that time.
Investors will be hoping for strength from LNVGY as it approaches its next earnings release. The company is expected to report EPS of $0.37, up 184.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.43 billion, up 4.3% from the year-ago period.
LNVGY's full-year Zacks Consensus Estimates are calling for earnings of $1.54 per share and revenue of $54.11 billion. These results would represent year-over-year changes of +55.56% and +6.03%, respectively.
It is also important to note the recent changes to analyst estimates for LNVGY. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. LNVGY is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that LNVGY has a Forward P/E ratio of 10.49 right now. Its industry sports an average Forward P/E of 10.49, so we one might conclude that LNVGY is trading at a no noticeable deviation comparatively.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LNVGY in the coming trading sessions, be sure to utilize Zacks.com.
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Lenovo Group Ltd. (LNVGY) : Free Stock Analysis Report
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