Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up - What's Next?

Key Points

• Lenovo Group shares surged from a previous close of $27.90 to an opening price of $29.29, last trading at $28.53 with a volume of 2,222 shares.
• The company reported a quarterly earnings of $0.44 per share, surpassing analysts' expectations, with revenue of $16.98 billion compared to forecasts of $15.77 billion.
• Lenovo Group announced a dividend increase to $0.7593, significantly up from the previous dividend of $0.20, resulting in a yield of 366.0%.

Lenovo Group Ltd. (OTCMKTS:LNVGY - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $27.90, but opened at $29.29. Lenovo Group shares last traded at $28.53, with a volume of 2,222 shares changing hands.

Lenovo Group Price Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.67 and a current ratio of 0.95. The business's 50 day simple moving average is $26.37 and its 200-day simple moving average is $26.07. The stock has a market capitalization of $17.78 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.63 and a beta of 0.75.

Lenovo Group Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were paid a dividend of $0.7593 per share. This represents a yield of 366.0%. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Lenovo Group's previous dividend of $0.20. Lenovo Group's dividend payout ratio (DPR) is presently 60.40%.

About Lenovo Group

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.