Lloyds Banking Group (LON:LLOY) Reaches New 1-Year High – Time to Buy?

Shares of Lloyds Banking Group plc (LON:LLOY) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 98.28 and last traded at GBX 98.26, with a volume of 485583000 shares changing hands. The stock had previously closed at GBX 97.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LLOY shares. Shore Capital restated a “hold” rating and set a GBX 84 price target on shares of Lloyds Banking Group in a report on Wednesday, November 19th. JPMorgan Chase & Co. lifted their price objective on shares of Lloyds Banking Group from GBX 100 to GBX 102 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a GBX 93 target price on shares of Lloyds Banking Group in a research report on Friday, October 10th. Royal Bank Of Canada lifted their price target on Lloyds Banking Group from GBX 100 to GBX 110 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 105 price target on shares of Lloyds Banking Group in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lloyds Banking Group presently has an average rating of “Moderate Buy” and an average price target of GBX 98.50.

Lloyds Banking Group Trading Up 0.8%

The business’s 50-day simple moving average is GBX 92.45 and its 200-day simple moving average is GBX 84.57. The company has a market cap of £57.66 billion, a PE ratio of 17.20, a P/E/G ratio of 1.84 and a beta of 1.23.

Lloyds Banking Group (LON:LLOY) last posted its quarterly earnings results on Thursday, December 11th. The financial services provider reported GBX 6.30 EPS for the quarter. Lloyds Banking Group had a net margin of 16.66% and a return on equity of 11.22%. On average, research analysts predict that Lloyds Banking Group plc will post 7.3199528 earnings per share for the current fiscal 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.