Lloyds Banking Group (LON:LLOY) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Lloyds Banking Group plc (LON:LLOY)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 101.81 and traded as high as GBX 112.45. Lloyds Banking Group shares last traded at GBX 111.03, with a volume of 223,284,844 shares changing hands.

Wall Street Analysts Forecast Growth

LLOY has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Lloyds Banking Group from GBX 114 to GBX 123 and gave the company a “buy” rating in a research report on Thursday, April 30th. Berenberg Bank reiterated a “hold” rating and set a GBX 117 price objective on shares of Lloyds Banking Group in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reduced their target price on shares of Lloyds Banking Group from GBX 171 to GBX 121 and set a “neutral” rating on the stock in a report on Monday, April 13th. Shore Capital Group reissued a “sell” rating on shares of Lloyds Banking Group in a research note on Thursday, April 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 125 target price on shares of Lloyds Banking Group in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 113.80.

Lloyds Banking Group Stock Performance

The stock has a 50 day moving average price of GBX 105.04 and a 200 day moving average price of GBX 101.91. The company has a market capitalization of £66.80 billion, a P/E ratio of 15.11, a PEG ratio of 1.84 and a beta of 0.91.

Lloyds Banking Group (LON:LLOY) last released its earnings results on Thursday, April 30th. The financial services provider reported GBX 2.40 earnings per share (EPS) for the quarter. The business had revenue of GBX 478.50 billion during the quarter. Lloyds Banking Group had a return on equity of 10.75% and a net margin of 25.91%. As a group, sell-side analysts expect that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current year.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.