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

Lloyds Banking Group (NYSE:LYG) announced its earnings results on Thursday. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03), Zacks reports. Lloyds Banking Group had a net margin of 10.89% and a return on equity of 9.81%.

Lloyds Banking Group Stock Up 6.2 %

Shares of Lloyds Banking Group stock traded up $0.20 on Thursday, hitting $3.34. The stock had a trading volume of 16,181,193 shares, compared to its average volume of 14,986,867. Lloyds Banking Group has a one year low of $2.13 and a one year high of $3.38. The stock has a market cap of $50.65 billion, a price-to-earnings ratio of 8.55 and a beta of 1.31. The stock’s 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $2.92.

Wall Street Analysts Forecast Growth

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

About Lloyds Banking Group

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.