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

Lloyds Banking Group (NYSE:LYG) announced its quarterly earnings results 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. Lloyds Banking Group had a net margin of 10.89% and a return on equity of 9.81%.

Lloyds Banking Group Stock Performance

LYG stock traded up $0.20 on Thursday, hitting $3.34. 16,996,645 shares of the company’s stock were exchanged, compared to its average volume of 15,033,801. Lloyds Banking Group has a 12-month low of $2.13 and a 12-month high of $3.38. The firm has a 50 day moving average price of $2.89 and a two-hundred day moving average price of $2.92. The stock has a market cap of $50.65 billion, a P/E ratio of 8.55 and a beta of 1.31.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Lloyds Banking Group 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.