Lloyds Banking Group (NYSE:LYG) Posts Earnings Results, Misses Estimates By $0.03 EPS

Lloyds Banking Group (NYSE:LYG) released its earnings results on Thursday. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03), Zacks reports. The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $4.76 billion. Lloyds Banking Group had a return on equity of 9.81% and a net margin of 10.89%.

Lloyds Banking Group Stock Performance

Lloyds Banking Group stock traded up $0.07 during mid-day trading on Friday, reaching $3.40. 5,818,630 shares of the company were exchanged, compared to its average volume of 14,939,723. Lloyds Banking Group has a 12-month low of $2.25 and a 12-month high of $3.40. The business has a fifty day moving average of $2.90 and a 200 day moving average of $2.93. The firm has a market cap of $51.56 billion, a P/E ratio of 8.68 and a beta of 1.31.

Analysts Set New Price Targets

Separately, Morgan Stanley downgraded shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.75.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.