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

Lloyds Banking Group (NYSE:LYG - Get Free Report) released its earnings results on Thursday, May 1st. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.03, Zacks reports. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.78 billion.

Lloyds Banking Group Price Performance

Shares of Lloyds Banking Group stock traded up $0.01 during midday trading on Thursday, hitting $3.89. The company had a trading volume of 16,611,658 shares, compared to its average volume of 16,663,304. The stock has a market cap of $58.86 billion, a PE ratio of 11.79 and a beta of 0.97. Lloyds Banking Group has a 1-year low of $2.56 and a 1-year high of $4.00. The business's 50 day simple moving average is $3.74 and its two-hundred day simple moving average is $3.19.

Lloyds Banking Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.1035 per share. The ex-dividend date is Friday, April 11th. This is a positive change from Lloyds Banking Group's previous semi-annual dividend of $0.05. This represents a dividend yield of 4%. Lloyds Banking Group's payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

LYG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods downgraded Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Lloyds Banking Group from a "hold" rating to a "sell" rating in a research report on Monday. HSBC raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Tuesday, April 1st. Finally, Hsbc Global Res upgraded Lloyds Banking Group to a "strong-buy" rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

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.