Lenovo (LNVGY - Free Report) closed at $14.95 in the latest trading session, marking a -0.73% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.93%. Meanwhile, the Dow lost 3.05%, and the Nasdaq, a tech-heavy index, lost 3.02%.
Coming into today, shares of the PC and phone maker had lost 8.3% in the past month. In that same time, the Computer and Technology sector lost 2.19%, while the S&P 500 lost 2.71%.
Investors will be hoping for strength from LNVGY as it approaches its next earnings release. On that day, LNVGY is projected to report earnings of $0.41 per share, which would represent year-over-year growth of 215.38%. Meanwhile, our latest consensus estimate is calling for revenue of $13.31 billion, up 11.77% from the prior-year quarter.
LNVGY's full-year Zacks Consensus Estimates are calling for earnings of $1.56 per share and revenue of $54.25 billion. These results would represent year-over-year changes of +57.58% and +6.3%, respectively.
Investors might also notice recent changes to analyst estimates for LNVGY. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.97% higher. LNVGY is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, LNVGY is holding a Forward P/E ratio of 9.68. Its industry sports an average Forward P/E of 9.68, 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 industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.