Lloyds Banking Group (NYSE:LYG) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Lloyds Banking Group (NYSE:LYG) announced its quarterly earnings data on Thursday. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03), Zacks reports. The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $4.76 billion. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%.

Lloyds Banking Group Stock Up 1.1 %

Shares of Lloyds Banking Group stock opened at $3.37 on Friday. The firm has a market cap of $51.11 billion, a PE ratio of 10.20 and a beta of 1.31. The company’s fifty day simple moving average is $2.91 and its two-hundred day simple moving average is $2.93. Lloyds Banking Group has a 12-month low of $2.25 and a 12-month high of $3.40.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Lloyds Banking Group currently has an average rating of “Hold” and a consensus target price 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.